Illustration: Sarah Grillo/Axios

Anadarko Petroleum on Monday indicated that it may leave Chevron at the altar, and go with Occidental Petroleum's higher acquisition bid.

Why it matters: The multibillion dollar battle highlights how keen oil heavyweights are to bolster their position in booming Permian Basin, the lucrative shale region in Texas and New Mexico where all three companies are active.

Where it stands: Anadarko said in a statement Monday morning...

"Anadarko is resuming its earlier negotiations with Occidental because Anadarko's board of directors, following consultation with its financial and legal advisors, has unanimously determined that the Occidental Proposal could reasonably be expected to result in a 'Superior Proposal' as defined in the Chevron Merger Agreement."

But, but, but: The new twist doesn't necessarily mean that Anadarko is going with Occidental. In addition to dollars, companies consider such factors as likelihood of a deal to close.

The other side: Chevron said in a statement Monday morning: “We believe our signed agreement with Anadarko provides the best value and the most certainty to Anadarko’s shareholders.”

Flashback: On April 12, Chevron and Anadarko announced a $33 billion transaction at $65-per-share, mostly in stock. Occidental offered $76-per-share last week at an even stock/cash split. There also have been reports that this is actually Occidental's second bid, having previously offered more than $70 per share in an offer quietly rejected by Anadarko's board of directors.

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In photos: Deadly wildfires devastate California's wine country

The Shady Fire ravages a home as it approaches Santa Rosa in Napa County, California, on Sept. 28. The blaze is part of the massive Glass Fire Complex, which has razed 46,600 acres at 2% containment. Photo: Samuel Corum/Agence France-Presse/AFP via Getty Images

Some 18,700 firefighters are battling 27 major blazes across California, including in the heart of the wine country, where one mega-blaze claimed the lives of three people and forced thousands of others to evacuate this week.

The big picture: 8,155 wildfires have burned across a record 3.86 million acres, killing 26 people and razing almost 7,900 structures in California in per Cal Fire. Just like the deadly fires of 2017, the wine country has become a wildfires epicenter. Gov. Gavin Newsom has declared a state of emergency in Napa, Sonoma, and Shasta counties.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 33,560,877 — Total deaths: 1,006,564 — Total recoveries: 23,297,593Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 7,190,036 — Total deaths: 205,974— Total recoveries: 2,809,674 — Total tests: 103,155,189Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. Politics: 7 former FDA commissioners say Trump is undermining agency's credibility
  5. States: NYC's coronavirus positivity rate spikes to highest since June.
  6. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  7. World: U.K. beats previous record for new coronavirus cases.
  8. Work: United States of burnout — Asian American unemployment spikes amid pandemic
Mike Allen, author of AM
Updated 2 hours ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?