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4/24/2019, 4:00 PM (Source: TeleTrader)
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Anadarko jumps over 11% after new bid

Anadarko Petroleum Corp shares surged over 11% on Wednesday after it was reported that Occidental Petroleum outbid Chevron's offer to buy the company, thus estimating its value at $57 billion.

Anadarko had already accepted Chevron's offer of $65 per share.

The company's stocks traded 11.31% higher at 9:41 am ET, going for $71.20 per share. Meanwhile, Chevron lost 0.97% at 9:42 am ET and Occidental Petroleum decreased 2.04% at the same time.

Breaking the News / VP