Anadarko Petroleum: Shell and Exxon as the M&A Interest

Just as an update to the technical argument earlier this afternoon, it seems it is worth keeping in mind the alleged M&A interest around Anadarko Petroleum. It is said that oil & gas giants Shell (LON:RDSB), and Exxon (NYSE:XOM) are running the rule over Anadarko, especially after recent favourable results.

apclogo

The theoretical take out price would be between $80-$90 a share, something which would make sense if nothing else as a premium over the current share price. Otherwise the technical target of $70 looks achievable, especially with ongoing oil price firmness, and the latest strong price action for Anadarko stock.

Disclaimer
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

Author: Zak Mir

Financial commentator, interviewer, technical analyst

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