Anadarko Surges as Takeover Rumors Turn Investors' Heads

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Anadarko Surges as Takeover Rumors Turn Investors' Heads

by TheStreet 0:45 mins

Anadarko Surges as Takeover Rumors Turn Investors' Heads

by TheStreet 0:45 mins

Shares of Anadarko Petroleum jumped on Wednesday making it TheStreet's Move of the Day. The exploration and production company gained after Website theflyonthewall.com reported speculation that Anadarko is a likely takeover target in the sector. Trade volume has spiked the last two days, surging on Tuesday about 100% from Monday's trade volume, and jumping 145% from yesterday. Company spokesperson John Christiansen told me in an email: "We do not comment on rumors." Shares climbed 4.2 percent to $108.32, making it on the third-best performer in the S&P 500. TheStreet's Joe Deaux reports.

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