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BHP Billiton May Bid for Anadarko: Report

NEW YORK ( TheStreet) -- BHP Billiton (BHP) may be preparing a bid for oil-and-gas explorer Anadarko (APC - Get Report), according to a report in London's Daily Mail newspaper Thursday.

The paper cited no sources, saying only that "speculation now suggests" that BHP may offer $90 a share for Anadarko. That represents a 27% premium to Anadarko's closing price Wednesday of $70.73.

The deal rumors sent Anadarko stock jumping in pre-market trades Thursday. It recently changed hands at $75.10, up 6%.

BHP is cash-rich and deal-hungry. This fall, BHP Chief Executive Marius Kloppers failed spectacularly for the second time in three years to close a mega-takeover (see Potash Corp. (POT)).

-- Written by Scott Eden in New York

>To contact the writer of this article, click here: Scott Eden.

>To follow the writer on Twitter, go to http://twitter.com/ScottEden.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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