Sorry to hear the resent news about APC - gave 25 years to buildup the Co.- laid off in 2016. Question: OXY agreed to a total price of $76. per share - As OXY stock pricing goes down, will they increase their %? If we don't sell shares now, will we still get a total of $76. when they complete the sale later in the year? Still have a lot of shares in 401K company plan. I wish all of the current employee good luck but any help you give us old timers would be appreciated.
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No. When the acquisition closes, you will receive $59 of cash for each Anadarko share you own and 0.2934 of Oxy stocks for each share of Anadarko you own. The $59/share cash component is fixed, but the value of the 0.2934 Oxy shares for each Anadarko share is not fixed and will fluctuate as the market conditions change. The Oxy offer had a total value of $76/share as of the NYSE market closing on 5/3, and will increase or decrease as the stocks go up and down.