Occidental Says Waiting Period For Its Acquisition Of Crownrock Under HSR Waiting Period Has Expired; Expects Deal To Close In August
Portfolio Pulse from Benzinga Newsdesk
Occidental Petroleum (OXY) announced that the waiting period under the Hart-Scott-Rodino (HSR) Act for its acquisition of CrownRock has expired. The deal is expected to close in August after the completion of the financing marketing period as per the CrownRock purchase agreement.
July 18, 2024 | 8:23 pm
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Occidental Petroleum (OXY) has announced that the HSR waiting period for its acquisition of CrownRock has expired, and the deal is expected to close in August. This development is a positive step towards finalizing the acquisition, which could enhance OXY's asset base and market position.
The expiration of the HSR waiting period is a significant regulatory milestone, indicating that there are no antitrust concerns from the authorities. This increases the likelihood of the acquisition closing as planned, which could positively impact OXY's stock price in the short term.
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