Negative surprise Occidental is going hostile on Anadarko: Expert

2:49 PM ET Wed, 24 April 2019

Occidental Petroleum bids $76 a share for Anadarko Petroleum in a half-cash, half-stock offer that values the oil and gas driller at $57 billion. Chevron announced an agreement on April 12 to buy Anadarko for $65 a share in a 75% stock and 25% cash transaction. Paul Sankey, managing director at Mizuho Securities, discusses the battle with CNBC's "Power Lunch" team.