SEC obtains asset freeze in suspected illegal trading

(Reuters) — The U.S. Securities and Exchange Commission on Monday obtained an asset freeze in connection with suspected fraudulent trading in Anadarko Petroleum Corp. before the oil company agreed to be acquired by rival Chevron Corp.

U.S. District Judge Gregory Woods in Manhattan granted the freeze over accounts linked to suspicious purchases by unknown purchasers of Anadarko securities between Feb. 8 and April 1, 2019, according to a court filing.

Chevron announced on April 12 it would buy Anadarko for about $33 billion. Another oil company, Occidental Petroleum Corp., launched an unsolicited $38 billion bid for Anadarko on April 24.