Oxy is aiming for billions of dollars’ worth of cost savings and productivity gains from the Anadarko deal, but many investors remain skeptical. Occidental Petroleum, ranked 167 in Fortune 500, recently snatched victory from Chevron with a winning bid of $38 billion for one of the largest U.S. Independent oil and gas companies; Anadarko ranked just 237, making this the largest American oil and gas merger in more than a decade and the 11 th biggest ever, for an energy and power company, according to business data provider Refinitiv. Back in April, Chevron Corporation announced its $33 billion bid for Anadarko which was quickly superseded by Occidental Petroleum’s shut-out bid worth around 20 per cent more to Anadarko’s shareholders . Vicki Hollub, Occidental Petroleum’s CEO, bid of $38 billion was secured by $10 billion in backing from Warren Buffet, CEO Berkshire Hathaway. Buffet’s support enabled Vicki Hollub to avoid […]