Occidental Petroleum Corp. completed its acquisition of rival Anadarko Petroleum Corp. after Anadarko shareholders on Aug. 8 voted overwhelmingly in support of the sale.

The companies had agreed to the transaction, valued at $55 billion (including debt), in May following a bidding war with Chevron Corp., which had initially offered $48 billion in its bid to buy Anadarko.

The acquisition of Anadarko adds a portfolio of international assets, including a prime position in the Permian Basin, to Occidental’s footprint. Occidental CEO Vicki Hollub expects to deliver at least $3.5 billion annually in cost and capital spending synergies from the combination, she said in a company press release.

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