Reported 2 months ago
CrownRock Holdings, partially owned by Texas oil mogul Tim Dunn, is looking to raise up to $1.7 billion through the sale of 29.6 million shares of Occidental Petroleum, priced at a discount. This follows Occidental's recent $10.8 billion acquisition of CrownRock LP, marking a significant transaction in the US oil sector. JPMorgan Chase, Morgan Stanley, and Royal Bank of Canada are managing the offering.
Source: YAHOO