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Oil & Gas - USA - Anadarko buys Kerr-McGee, Western
SAN FRANCISCO,CAL,USA -MarketWatch, by Padraic Cassidy & Jim Jelter -Jun 23, 2006: -- Anadarko Petroleum Corp., the nation's biggest independent oil and gas producer, made a push Friday to get a lot bigger, offering to buy Kerr-McGee Corp. and Western Gas Resources Inc. in a double-barrel takeover worth $21.1 billion in cash... The combined merger -- the ninth biggest ever in the oil and gas sector, according to Thomson Financial data -- was seen by analysts as the latest chapter in an ongoing consolidation of the industry, where producers flush with cash from record-high energy prices are scrambling to streamline operations and replenish dwindling reserves... The Anadarko deal also ignited a flurry of buying in the rest of the exploration and production group, with companies often mentioned as the possible next takeover targets seeing their share prices surge as much as 8%...
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