As per the market sources, independent oil and natural gas exploration and production (E&P) company Anadarko Petroleum Corp. (APC) may be acquired by the energy giant Exxon Mobil Corp. (XOM). After the market rumor, the trading volume of Anadarko Petroleum jumped 211.6% to 11,688,364 on Jun 11, 2014 from its last 10 days average volume.
Shares of Anadarko Petroleum hit its 52-week high of $109.00 on Jun 11, 2014 following the news. Finally, the share price closed at $108.32, up roughly 4.2% from the previous day’s closing.
Is Anadarko a Buyout Candidate?
— Zacks Investment Research