Anadarko buys Western Gas, Kerr McGee

Denver-based Western Gas Resources is to be bought by Houston-based oil and gas producer Anadarko Petroleum for $5.3 billion in cash and debt.

Anadarko Petroleum paid a 49 percent premium over the market value for Western, Colorado's largest energy company.

Anadarko will also pay $18 billion to acquire Kerr-McGee of Oklahoma City. If both deals are approved by regulators and shareholders, Anadarko will become the nation's largest independent oil and natural gas producer with substantial footpr