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Anadarko confirms Apache rejected an all-stock offer

Published 2015-11-11, 08:43 a/m
© Reuters.  Anadarko confirms Apache rejected an all-stock offer
APC
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APA
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Nov 11 (Reuters) - Anadarko Petroleum Corp (N:APC) APC.N confirmed
on Wednesday that it had made an offer to buy fellow oil
producer Apache Corp (N:APA) APA.N in an all-stock deal, but had been
rejected without discussions.
"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currently, the offer was withdrawn," Anadarko said.
Anadarko's statement followed media reports on Tuesday that
Apache had rejected an offer from Anadarko. Both the companies'
shares had fallen on the reports.

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