Anadarko confirms Apache rejected an all-stock offer

Wed Nov 11, 2015 8:43am EST
 
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Nov 11 (Reuters) - Anadarko Petroleum Corp confirmed on Wednesday that it had made an offer to buy fellow oil producer Apache Corp 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and based on our analysis, which shows that Apache appears to trade at or near full value currently, the offer was withdrawn," Anadarko said.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. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Ted Kerr)