Takeout Rumors Circle Apache Corp

Apache Corp APA shares are trading higher $5.50 at $53.17 in Monday's session. It has been rumored that an unknown buyer has approached the company and was rejected. The initial spike when the news surfaced took the issue to $54.89 in premarket trading. However, with no forthcoming confirmation, the issue tailed off to open higher and make a brief run to $54, before retreating to the $53 level. The intaday high coincides with its July 16 high ($53.90).