Deals
Anadarko Reaches Mid-2008 High on Report BHP May Bid
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Anadarko Petroleum Corp., which owns a share of the BP Plc well that caused the biggest U.S. offshore oil spill, surpassed a two-year high in New York trading after a U.K. newspaper reported that BHP Billiton Ltd. may make a $90-a-share bid for the company.
Anadarko rose $4.86, or 6.9 percent, to $75.59 in New York Stock Exchange composite trading at 4:08 p.m., the largest gain of any company in the Standard & Poor’s 500 Index and the highest close since June 2008. BHP, the world's largest mining company, rose 40 cents, or 0.9 percent, to A$45.85 in Sydney. The Daily Mail reported the planned bid, without saying where it got the information.