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Anadarko Reaches New High Amid Speculation of Takeover

Anadarko Petroleum Corp. jumped to a record high on speculation the global oil and natural gas producer may be on the brink of a takeover.

Anadarko climbed 4.2 percent to $108.32 at the close in New York after Theflyonthewall.com reported “takeover chatter” today surrounding The Woodlands, Texas-based company. Anadarko’s settlement of a long-running pollution case in April helped clear the way for suitors for a company that has long been viewed as a likely target for one of the major international oil companies such as Exxon Mobil Corp.