Occidental Petroleum said it received notice of an unsolicited "mini-tender offer" from TRC Capital Investment Corporation to buy up to 2 million shares of its common stock at $51.51 per share. Occidental said it does not endorse the offer.

1. 01

   Occidental Petroleum said it received notice of an unsolicited "mini-tender offer" from TRC Capital Investment Corporation to buy up to 2 million shares of its common stock at $51.51 per share. Occidental said it does not endorse the offer.

2. 02

   The company said the offer price is about 4.45% below the closing price of $53.91 on October 14, 2024, the last trading day before the offer commenced, and that the shares sought represent about 0.2% of common shares outstanding as of October 15, 2024, the offer date.

3. 03

   The company said it does not endorse TRC's offer and has no association with TRC, and it recommends that shareholders do not tender their shares. It said shareholders who have not responded to the offer should take no action.

4. 04

   The company said the offer is subject to conditions, including that Occidental's stock price not fall below $51.22 per share, and is scheduled to expire at 11:59 p.m., New York City time, on November 12, 2024. Shareholders who have already tendered may withdraw their shares at any time before the offer expires.

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