Stock Market Watch

Anadarko Petroleum Corporation (APC) Climbing on Takeover News

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Anadarko Petroleum Corporation (NYSE: APC) shares are rallying in trading today after the UK-based Daily Mail reported that the company may be a possible takeover target. The Daily mail reported that BHP Billiton (ADR) (NYSE: BHP) may offer to acquire the company for $90 a share in cash.

The takeover news has pushed Anadarko shares higher in trading today. The stock opened at $74.87 and touched a 52-week high of $76.50. At last check, it was up 6.16% to $75.09, with volume at 14.81 million, above the daily average volume of 3.43 million.

Anadarko shares have a 52-week range of $34.53-$76.50. In 2010, the shares have climbed 9.32%.

The Woodlands, Texas-based Anadarko Petroleum Corporation is an independent oil and gas exploration and production company.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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