1. Chevron to buy Anadarko Petroleum in $33 billion deal
Chevron announced Friday that it would acquire oil and gas producer Anadarko Petroleum in a $33 billion cash and stock deal. The merger plan, which still must meet shareholder and regulatory approval, valued Anadarko at $65 per share. Anadarko's stock surged in pre-market trading, rising by 34 percent to $61.50. Chevron shares edged down by 1.6 percent. If approved, the deal is expected to close in late 2019. "This transaction will unlock significant value for shareholders, generating anticipated annual run-rate synergies of approximately $2 billion, and will be accretive to free cash flow and earnings one year after close," Chevron Chairman and CEO Michael Wirth said in a statement.
2. Disney sets streaming service price at $6.99 a month
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3. Cain's Fed chances crumble as 4 Republicans announce opposition
4. Uber releases long-awaited IPO prospectus
5. J.P. Morgan beats expectations with record first-quarter profit
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