BHP May Make $90-a-Share Bid for Anadarko, Daily Mail Reports
By Chris Peterson - Dec 30, 2010 3:28 AM CT
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BHP Billiton Ltd. may make a $90-a- share bid for U.S. oil and natural-gas producer Anadarko Petroleum Corp., the Daily Mail reported, without saying where it got the information.
BHP Chief Executive Officer Marius Kloppers is “desperate” to complete a successful acquisition, the London- based newspaper said, citing failed deals in recent months.
BHP abandoned a plan with Rio Tinto Group in October to create the world’s largest iron-ore exporter in Australia, and in November scrapped a bid for Potash Corp. of Saskatchewan. The Melbourne-based company may now pursue energy acquisitions and could target Anadarko, Credit Suisse Group analysts wrote in a Nov. 17 report.
Ruban Yogarajah, a London-based spokesman for BHP, declined to comment on the Daily Mail report when contacted by Bloomberg.
BHP rose as much as 1.2 percent to 2,647 pence in London trading, and was at 2,623 pence as of 9:25 a.m. local time. Anadarko climbed 2.3 percent to $70.73 yesterday in New York.
To contact the reporter on this story: Chris Peterson in London at cpeterson@bloomberg.net
To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net