Anadarko Shares Surge on BHP Takeover Rumors


U.S. oil and gas explorer Anadarko Petroleum (NYSE:APC) surged to a multi-year high Thursday after rumors resurfaced that BHP Billiton (NYSE:BHP) is mulling its purchase.

Britain’s Daily Mail reported that the Australian natural resource company, and the world’s largest miner, is preparing a $90-a-share bid to take over Anadarko.

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While the acquisition has been rumored for months, the companies have yet to make a public comment.

The Woodlands, Texas-based Anadarko has seen a decline in its shares since the BP (NYSE:BP) rig explosion caused one of the worst oil spills in history. Anadarko owns 25% of the ruptured Macondo well that sent millions of gallons of oil spewing into the Gulf of Mexico.

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