Despite rampant rumors that there could be a competing bid for Conoco, which is engaged in a $35 billion merger of equals with Phillips, A.G. Edwards analyst Bruce Lanni isn’t buying it. The speculation has substantially increased the share price of Conoco relative to Phillips. Currently, Conoco is trading at a 5.4% premium, “suggesting that the ‘arbs’ believe there may be another bid in play.”
Rampant
Articles from Rampant
Storage-Wednesday Has Something for Both Bulls and Bears
Speculation around the much anticipated storage report continuedto run rampant yesterday on trading floors across the natural gasindustry and that coupled with steady fund buying was enough tolift the futures market higher for the third day in a row. TheSeptember contract raced off to a fast start, but was unable toretest the $2.72 high set last Thursday. After notching a $2.66high trade around 10:30 EST the prompt month was left to chopsideways before eventually settling up 4.4 cents at $2.642.
August 5, 1999
Analysts: El Paso-Southern Merger Dead for Now
It’s been all talk but no action and as a result industryanalysts are starting to back away from rampant rumors of apotential merger between Southern Co. and El Paso Energy.
March 1, 1999
Analysts: El Paso-Southern No Deal So Far
It’s been all talk but no action and as a result industryanalysts are starting to back away from rampant rumors of apotential merger between Southern Co. and El Paso Energy.
March 1, 1999
Merger Mania May Run Rampant Again
Beyond the currently tumultuous financing markets and depressedcommodity prices there is a good deal of potential energy in themergers and acquisitions arena, according to Eric Mullins, vicepresident of Goldman Sachs.
October 8, 1998
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