BUFFETT BACKS OCCIDENTAL IN $57B BID FOR ANADARKO
Warren Buffett’s Berkshire Hathaway will finance a bid by Occidental Petroleum for Anadarko, potentially upending Chevron’s $33 billion offer for the energy company. At stake are choice oil and gas fields spread across Texas and New Mexico, including a 75-mile-wide corridor across the Delaware Basin, a region bountiful with natural gas. Anadarko Petroleum accepted a buyout bid from Chevron this month, but it’s now considering Occidental’s offer worth about $57 billion in cash and stock.