Occidental completes acquisition of Vintage Petroleum.

0 Comments | M2 Presswire, January, 2006

M2 PRESSWIRE-31 January 2006-Occidental Petroleum Corporation: Occidental completes acquisition of Vintage Petroleum(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:30012006 LOS ANGELES - Occidental Petroleum Corporation (NYSE:OXY) announced today it has completed the previously announced acquisition of Vintage Petroleum, Inc.

(NYSE:VPI). Under the terms of the merger agreement, Vintage shareholders will receive $20.00 per Vintage share in cash, plus 0.42 Occidental shares per Vintage share. As a result of this transaction, Occidental will issue approximately 28 million shares of Occidental common stock and pay approximately $1.4 billion in cash to former Vintage stockholders. As previously announced, Occidental plans to implement, from time to time, a stock...