Anadarko Continues To Chug Higher; Deal In The Works? (APC, BHP)

M&A rumors are sweeping across Wall Street once again as deal flow continues to pick up. Recently, rumors have been getting a lot of traction because a significant number of deals are actually happening. The latest intrigue involves speculation that BHP Billiton

is preparing a $90 bid for Anadarko Petroleum

. This story is not new, as murmurs have been in the marketplace for months, but the most recent reports are generating some serious buzz this time around. BHP is the world's largest mining company, and its CEO Marius Kloppers' ambition appears to parallel the size and scope of the sprawling enterprise that he runs. Earlier this year the company was aggressively pursuing Potash

, a giant fertilizer company in its own right. That deal has since fallen through, and many believe Kloppers is now eyeing $38+ billion independent oil and gas exploration company Anadarko Petroleum (

). Kloppers appears to be determined to further diversify into other resource businesses and a deal with Anadarko would solidify BHP's leading status on the global commodity front. These rumors are clearly capturing the imagination of Wall Street. Anadarko surged more than 6% yesterday and has added another 3% today to $77.85. A deal of this size would likely be a drawn out, complicated process, but it is extremely intriguing. If nothing else, Kloppers' ambition is something to both behold, and dare I say, admire.