It characterised the transaction as “costless” but a Reuters review of regulatory filings, market data and interviews shows that’s not the whole story. The aim of the complex financial maneuver, the company said, was to help preserve Occidental’s generous dividend to shareholders as it sought to take over rival Anadarko Petroleum for $38 billion last summer in the biggest industry deal for years. “With the additional leverage from the Anadarko acquisition, these new hedges will strengthen our 2020 cash flow in a low oil price environment, and provide additional assurance that our dividend is safe, while we are …read more
Source:: Yahoo Finance
