Oxy gives $1B to CVX and then CVX makes a prudent move to acquire Noble for $5B.
Way to go oxy!
23 replies (most recent on top)
Now that’s...WINNING
Wow, I feel sorry for you folks who are still at Oxy, sounds miserable. APC management dragged us thru the mud for months! So glad to be out of that toxic environment. Good Luck to you all! There is life after APC/OXY.
Yeah she was sure quiet when the apc deal was made. The poster below nailed the transition of a nobody to a boastful exec that has been echoed by many that knew her in the old days. Gotta say it's no surprise she doesnt have many supporters but she's the devil we know as of now and I think the shareholders didtn have a solid replacement ready but that might change soon.
You could have a female and a male both be quiet during meetings and the attendees will leave thinking the male was smarter than the female. It’s a lose-lose for females to speak up or stay quiet in meetings. I have been around some men who rarely speak up and when they do it’s shallow commentary with nothing insightful and management thinks he’s smart because he doesn’t speak much or has a beard. Vicki may s— for a multitude of reasons but you need to look inwards if you’re judging based on your perception of her meeting contributions.
That was a solid post. Although I would disagree that being quiet in meetings showcases a lack of problem-solving or leadership. Often times, at least at my company, you can pick out the worthless managers by counting the number of words they utter in a meeting. It's almost like a linear relationship; individuals who have nothing to contribute will do their best to make their voices heard and drone on and on with useless buzzwords during meetings in order to curry favor from the higher-ups.
Not at all trying to defend VH on this one. Just saying that I would have been much more worried about her as a decision-maker if she had talked more during those early meetings rather than kept quiet. And frankly, the smartest and best leaders know that we all hate meetings anyway and we can all get out of there and go to lunch faster if fewer words are spoken.
I'm retired, but I have benefits with Oxy and lots of former work colleagues still there. So I hope for the best regarding Oxy.
I worked with and around Vicki Hollub over a 6-year period and initially thought of her as a decent person. However, there was nothing that made her stand out from her peers before Chazen put her on the CEO fast track. In meetings, she was usually quiet unless spoken to, or it was her time to give the weekly update for her department. Never a hint of engaged problem-solving, leadership, imagination, nothing.
Once the promotions started, she morphed into a "Look At Me!" persona that was irritating at best. The public victory laps with the Anadarko acquisition was the final straw. And now, given the current predicament, I've lost that last bit of respect for her. I don't see Vicki as a decent person anymore, because a decent, self-aware, honorable person would have resigned by now.
Yes, I know the Icahns and Buffets and Chazens have plans that include Hollub eventually leaving, but this has gone on long enough. Vicki - do the right thing and quit. Now.
One year later, we see who the arrogant and prideful really are. As the Bible says, those that are arrogant will have their day, but it will be short lived. I remember V on the cover of a prominent magazine boasting how she bested the big boys in the oil industry - prideful. Now, these same people that praised V for her “smartness” are saying she was / is a fool. Yes, OXY helped CVX buy Noble, and OXY got nothing. V will walk away to retirement with lots of shareholder and employee money, and leave disaster in her wake. She will say to herself: “I did my best, and it was good.” It’s obvious now, V motive was to do the Anadarko deal to best CVX, and not add value to OXY. She sold the OXY soul to do the deal. And the employees and shareholders suffer because of her arrogance. I am so proud I work at CVX.
Oxy lacks talent because management gives little opportunities for growth to their employees. It’s not about the employees, it’s about how good managers look to each other. So fake.
Noble and CVX boards are joking about an Oxy counter offer. I find that hilarious and sad at the same time.
There is synergy in the Permian and DJ so let me call Warren, ....almost forgot Eagleford is one stone throw away....i will call him from the plane.........east med is next to Algeria.....no time to get dressed, will change on the plane............
Did you see the report on CNBC that Vicki’s jet landed in Omaha this evening?
Oxy has talent?
HAHAHA I can't believe the one guy on the comment below still can't figure out that it was Oxy that paid CVX $1b. And he is really making an effort to argue that it came out APC's bank. Typical Oxy talent.
You better hope Vicki doesn’t try to outbid CVX on another deal!
Oxy, just pure Oxy.
Humiliating. Just pure humiliation.
I bet you also fall for tricks TV retailers put out there for 19.99 plus S&H.
Reality is that if I give out $1knowing that I am going to get more money including the money given away that means someone down the supply chain is paying for it and not me. No wonder oxy is bad at deals... just look at the net out comes below. Look who turns out worse in deal two.
- $33 going to Company A from Company B. Company C left out of the negotiations.
Results:
- Company A net +33
- Company B net -33
- Company C net 0
- $37 given to Company A from Company C and $1 given to Company B from Company A
Results:
- Company A net +37
- Company B net +1
- Company C net -38
https://www.prnewswire.com/news-releases/anadarko-agrees-to-be-acquired-by-occidental-300847771.html
“Anadarko also announced that prior to entering into the merger agreement with Occidental, the Company terminated its previously announced merger agreement with Chevron Corporation (NYSE: CVX). In accordance with the terms of that agreement, Anadarko has paid a termination fee of $1 billion to Chevron.”
APC shareholders are the ones who paid CVX the $1 B termination fee, and contributed to 1/5th of CVX acquisition of NBL.
@eyf+162Sit2X it came from APC’s cash on hand in May 2019, before the APC-OXY deal closed in August 2019. It was paid out of APC’s balance sheet. Read the press releases and SEC filings.
Not true Sir as indicated by the filing.
CVX offered ~$33B vs Oxy @ ~$38B (17% difference for those in the details). That's roughly $5B in premium or as we liked to call it.... a s u c k e r fee. Also this was reitterated to VH in open communication during negotiations that there was a breakup fee. Where do you think $1B went? ... so yeah Oxy paid for it.
CVX got the $1 B from APC last year not OXY
You are forgetting all the debt noble has.
Put that $1B to good use.