HOUSTON (Reuters) – Anadarko Petroleum Corp’s board on Monday backed a $38 billion bid from Occidental Petroleum Corp, adding pressure on rival Chevron Corp to raise its offer or walk away from the takeover contest. FILE PHOTO: Anadarko Petroleum Corporation is seen in The Woodlands, Texas, U.S., April 30, 2019. REUTERS/Loren Elliott/File Photo The decision capped a series of moves by Occidental to finance and reduce hurdles before its $38 billion deal after Anadarko balked at several earlier offers. Occidental received the board’s endorsement after raising $18.8 billion in cash pledges that allowed it to avoid a vote by its shareholders on the deal. Chevron has four days to decide whether it wants to alter an existing merger agreement that Anadarko already accepted or make a new bid. A spokesman confirmed it had receive the notice of termination from Anadarko and declined comment on its next steps. Anadarko said […]