The Kerr-McGee Corporation was an energy company involved in the exploration and production of oil and gas resources. The company, founded in 1929, had about 1.4 billion U.S. dollars in assets as of March 31, 2006.
On June 23, 2006, Houston-based Anadarko Petroleum Corporation agreed to acquire Kerr-McGee in an all-cash transaction totaling $16.5 billion plus the assumption of $2.6 billion in debt. Kerr-McGee shareholders voted to approve the off...
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The Kerr-McGee Corporation was an energy company involved in the exploration and production of oil and gas resources. The company, founded in 1929, had about 1.4 billion U.S. dollars in assets as of March 31, 2006.
On June 23, 2006, Houston-based Anadarko Petroleum Corporation agreed to acquire Kerr-McGee in an all-cash transaction totaling $16.5 billion plus the assumption of $2.6 billion in debt. Kerr-McGee shareholders voted to approve the offer on August 10, 2006 and Kerr-McGee immediately ceased to exist as an independent entity. Many aspects of company procedure and policy (such as healthcare and benefits) will be retained until late 2006/early 2007. As a result of the takeover, all operations (with the exception of Tronox which was spun off as a separate company in 2005) moved out of the State of Oklahoma, where Kerr-McGee employed approximately 200 people at its Oklahoma City headquarters.
Kerr-McGee was initially focused in mostly off-shore oil exploration and production,...
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