On January 19, 2024, Occidental And CrownRock Each Received A Request For Additional Information And Documentary Material From The FTC In Connection With FTC Review Of Acquisition
Portfolio Pulse from Charles Gross
On January 19, 2024, Occidental Petroleum Corporation and CrownRock received a request for additional information from the FTC regarding the FTC's review of Occidental's acquisition of CrownRock. This second request could indicate a more in-depth investigation into the acquisition, potentially delaying the process.
January 22, 2024 | 11:36 am
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Occidental Petroleum Corporation's acquisition of CrownRock is under closer FTC scrutiny as evidenced by the request for additional information. This development may delay the acquisition process and could lead to concerns among investors about potential regulatory hurdles.
The request for additional information from the FTC typically suggests a more comprehensive review of the acquisition, which can lead to delays and even raise the possibility of conditions being imposed or the deal being blocked. This uncertainty is likely to have a negative impact on Occidental's stock price in the short term as investors may be concerned about the outcome of the regulatory review.
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