The best laid plans of energy titans can often go astray,particularly where mergers are concerned. ExxonMobil tossed awrench into the BP Amoco-ARCO merger works by suing for apreliminary injunction against the merger partners and PhillipsPetroleum. Phillips has agreed to buy ARCO’s Alaskan holdings forabout $7 billion in a deal intended to win Federal Trade Commissionapproval of the merger (see NGI March 20).
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ExxonMobil Enters BP Amoco-ARCO Fray
The best laid plans of energy titans can often go astray,particularly where mergers are concerned. ExxonMobil tossed a wrenchinto the BP Amoco-ARCO merger works by suing for a preliminaryinjunction against the merger partners and PhillipsPetroleum. Phillips has agreed to buy ARCO’s Alaskan holdings forabout $7 billion in a deal intended to win Federal Trade Commissionapproval of the merger (see Daily GPI, March17).
March 28, 2000
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