Houston — Anadarko Petroleum  plans to resume talks about a potential $38bn takeover by Occidental Petroleum, a move that threatens to scupper a previously agreed deal with Chevron Corp. In a unanimous decision, Anadarko’s board of directors determined the Occidental bid could “reasonably be expected to result in a superior proposal”, the company said on Monday. It added that an earlier agreement to merge with Chevron remains in effect. The move sets the stage for Chevron to come back with a sweetened offer. Under the terms of the companies’ April 12 merger agreement, if Anadarko formally declares the Occidental offer to be superior, Chevron then has four days to make another proposal. While it has ample financial firepower to top Occidental’s offer, it may opt instead to avoid an expensive bidding war. Taking the $1bn break-up fee that’s part of their accord and walking away would be an acceptable outcome for Chevron, Jefferies  analysts Jason Gammel and Daniela Almeida said. “Chev...

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