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Monday, December 9, 2013

Market Chatter- Corporate finance press digest, (NYSE: OXY)

The following corporate finance-related stories were reported by media: * Three state-owned Gulf firms are considering a joint bid for a minority stake in Occidental Petroleum Corp's Middle East and North Africa unit, a deal that could be worth between $8 billion and $10 billion, three banking sources said.* Freedom Group Inc proposed on Monday to raise $225 million in debt and equity to help purchase out some of private equity firm Cerberus Capital Management LP's investors, in a deal that values the controversial gun maker at about $1.2 billion.

Occidental Petroleum Corporation (Occidental) conducts its operations through various subsidiaries and affiliates. Shares of OXY traded higher by 0.53% or $0.49/share to $93.14. In the past year, the shares have traded as low as $74.82 and as high as $99.42. On average, 3620990 shares of OXY exchange hands on a given day and today's volume is recorded at 5059333.