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Wednesday, November 11, 2015
Rumors are circulating that Anadarko Petroleum Corp. approached Apache Corp with a potential acquisition deal in mind.
While neither firm was willing to comment on the approach, Bloomberg News reported that Apache had been approached by an unnamed firm. Since the approach Apache hired investment bankers from Goldman Sachs Group Inc. for advice.
Why the rumor pegs Anadarko as the Apache suitor? Word has it that Anadarko has been eying Apache’s three million acres in the Permian Basin, although according to experts the move is seen as somewhat defensive. If any deal evolves, do not expect there to be any cash involved, it would most likely play out as an all stock deal.
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