Anadarko buys two energy rivals for $21 billion

Kerr-McGee, Western Gas agree to all-cash deals

OKLAHOMA CITY – Oil and natural gas producer Anadarko Petroleum Corp. announced two multibillion dollar deals to acquire smaller producers Kerr-McGee Corp. and Western Gas Resources Inc.

Houston-based Anadarko will pay $16 billion in cash, or $70.50 per share, for Oklahoma City-based Kerr-McGee. That represents a 40 percent premium over Thursday

Anadarko also will pay $61, or $4.74 billion, to buy Western Gas Resources, an independent natural gas explorer, and will assume $560 million in debt. That cash offer represents a 49 percent premium over the company