Houston — Anadarko Petroleum exacted a top price for itself by repeatedly spurning Occidental Petroleum’s approaches and pushing for all-cash offers, reasoning the market might react negatively to the blockbuster $38bn deal, according to securities filings released on Friday.

Occidental in May beat Chevron to grab a major oil industry prize: nearly a quarter million acres in the Permian Basin, the top US shale field, where low-cost output has helped turn the US into the world's top oil producer at more than 12-million barrels per day...

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