Chevron Will Not Increase Offer to Acquire Anadarko

Chevron Agrees with Petrobras to Buy Pasadena Refinery System for $350 Million

Chevron Corporation (NYSE: CVX) announced today that, under the terms of its previously announced Merger Agreement with Anadarko Petroleum Corporation (NYSE: APC), it will not make a counterproposal and will allow the four-day match period to expire.  Accordingly, Chevron anticipates that Anadarko will terminate the Merger Agreement.

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