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Thursday, May 19, 2016
The latest rumor in the merger and acquisitions arena has one US independent the subject of a takeover bid by another US independent. According to various reports, Occidental Petroleum may acquire Apache Corp. in what could be a deal worth an estimated $25 billion.
Early reports had Apache holding a ‘town hall’ meeting to announce the takeover to the staff, however later it was revealed by Apache that the meeting was not to announce the takeover but to cover employee layoffs.
Occidental for its part said it had no knowledge of any pending transaction.
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