Occidental Executive Says FTC Queries On CrownRock Deal To Delay Closing, Now Expected For 2H
Portfolio Pulse from Benzinga Newsdesk
An Occidental Petroleum executive announced that the Federal Trade Commission's inquiries into the CrownRock deal will delay its closing, now anticipated in the second half of the year, according to Reuters citing a webcast.
February 15, 2024 | 6:24 pm
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NEGATIVE IMPACT
The delay in the closing of the CrownRock deal due to FTC inquiries may introduce uncertainty and potentially affect Occidental Petroleum's stock in the short term.
Delays in mergers or acquisitions, especially due to regulatory inquiries, can introduce market uncertainty regarding the deal's completion and terms. This uncertainty can lead to short-term negative sentiment among investors, potentially affecting the stock price negatively.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90