TRC Capital Makes Mini-Tender Offer To Acquire Up To 0.26% Stake In Occidental Petroleum For Up To US$125.26 Million

Published: Oct 25 2017
Deal Summary

TRC Capital Corporation, a private equity firm, made an unsolicited mini-tender offer to acquire up to 2 million (MM) shares, representing 0.26% stake, of Occidental Petroleum Corporation, an oil and gas company, for a purchase consideration of up to US$125.26 million (MM). The offer was made at a price of US$62.63 per Occidental share.

Occidental Petroleum focuses on oil and gas exploration and production activities in the US, Middle East and Latin America. The company also has midstream operations which focus on gas gathering, processing, transportation, storage of oil, condensate, natural gas liquids (NGLs), natural gas, carbon dioxide and power. Occidental Petroleum’s chemical division is a manufacturer of polyvinyl chloride resins, chlorine and caustic soda.

The offer is expected to expire on November 21, 2017.

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