Anadarko Petroleum Corp. confirmed it made a non-binding offer to buy Apache Corp. in an all-stock transaction.
Anadarko said the offer, which included a modest premium, was withdrawn after the target rejected it and “no discussions of substance occurred,” according to a statement Wednesday.
“We are unwilling to pursue the transaction without access to detailed non-public information, and based on our analysis, which shows that Apache appears to trade at or near full value currently, the offer was withdrawn,” Chief Executive Officer Al Walker said in the statement.
Brazil Energy Insight 
Leave a comment