Occidental's winding path to Anadarko bid led to Buffett's door

Occidental Petroleum Corp.'s bombshell investment from Warren Buffett is the culmination of almost two years of on-and-off-again wrangling with Anadarko Petroleum Corp. – a saga that is so far seen the company slip through its fingers several times.
Photo: HERBERT GERALD
Photo: HERBERT GERALD
BY BLOOMBERG NEWS, KIEL PORTER & RACHEL ADAMS-HEARD

With Buffett in its corner and a higher bid on the table, Occidental finally seems to have the upper hand over Chevron Corp.’s lower, but already agreed on, offer. Anadarko’s board has decided to start talking to Occidental again, and said that its bid could result in a superior proposal.

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