$265 Million Anadarko's Aquisition - 3 October, 2002

Howell Corp. has entered into an agreement to be acquired by Houston-based Anadarko Petroleum Corp. in a cash merger in which Howell's common stockholders are to receive $20.75 per share and holders of Howell's $3.50 convertible preferred stock are to receive $76.15 per share.

The acquisition's value is approximately $265 million, including Howell's bank debt, which is anticipated to be about $65 million at closing.

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Author`s name Petr Ermilin