Anadarko Petroleum announced that the five week negotiations with two smaller rival companies are coming to a close as Anadarko agrees to buy the two companies for a combined price of $21.1 billion. This merger is the first of what is predicted to be a period of many mergers in this sector.
Though neither of these smaller companies were facing bankruptcy or debt, the move could be positive for the oil industry. It is questionable what the effect of fierce competition has had on the energy and oil industry. Anadarko now plans to expand operations further into North America with a focus on the Rockies and the Gulf of Mexico. ■
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