Anadarko Petroleum Corporation (APC) Climbing on Takeover News

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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