Chevron Corp.'s agreement to acquire Anadarko Petroleum Corp. would create a combined company with about $35.4 billion in retirement plan assets.
As of Dec. 31, San Ramon, Calif.-based Chevron's U.S. defined benefit plan assets totaled $8.5 billion and international defined benefit plan assets totaled $4.1 billion, according to the company's most recent 10-K filing, and its defined contribution plan assets totaled $19.9 billion as of Dec. 31, 2017, according to the company's most recent 11-K filing.
The Woodlands, Texas-based Anadarko's defined benefit plan assets totaled $1.3 billion, also as of Dec. 31, according to the company's most recent 10-K filing, and defined contribution assets totaled $1.6 billion as of Dec. 31, 2017, according to its most recent 11-K filing.
Kent Robertson, Chevron spokesman, said he is unaware whether any discussions regarding the retirement plans have taken place.
The transaction, valued at $33 billion in stock and cash, has been approved by the boards of directors at both oil companies and is expected to close in the second half of 2019 pending approval of Anadarko shareholders, according to a Chevron news release. The combined company will continue to be named Chevron and be based in San Ramon.
