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Friday, 04/12/2019 11:01:24 AM

Friday, April 12, 2019 11:01:24 AM

Post# of 8177
From CNBC:

“Sentiment was also boosted on Friday by a massive deal in the energy sector. Dow member Chevron announced plans to acquire Anadarko Petroleum for $33 billion in cash and stock. The deal values Anadarko at a 37% premium from the stock's close on Thursday. Anadarko shares jumped 32% while Chevron fell 5%.

"Investors have been clamoring for consolidation of the US oil patch in recent years (especially within the last year), so this very well may kick-start M&A activity in the space on a larger scale," wrote Capital One Securities analyst Phillips Johnston. "We think the deal has positive implications for other Permian players with a large acreage footprint."
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