BP-Amoco to set standard for oil-industry mergers
Article Abstract:
British Petroleum PLC (BP), an oil firm based in London, UK, has acquired Amoco Corp. in a $48.2-billion stock deal that could trigger more consolidations in the oil industry. BP, which expects growth in earnings after 1999, agrees with Amoco officials that their combined companies will perform better than they were individually at a comparatively lower cost with savings of $2 billion. The deal has boosted other major oil company stock prices. Analysts also said the merger could set a new trend in the industry considering the expected success of the merger since there are little overlaps on their products, oil and gas. Meanwhile, some observers presented contradicting forecasts.
Comment:
Acquires US-based Amoco Corp in a $48.2-billion stock deal that could trigger more consolidations in the oil ind
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Phelps Dodge lifts bid for copper firms
Article Abstract:
Phelps Dodge Corp added cash to its offer to acquire both Asarco Inc and Cyprus Amax Minerals Co. The two copper companies had announced plans to merge. The stock of all three companies rose.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Billiton agrees to buy Rio Algom
Article Abstract:
Billiton PLC has reached an agreement to acquire Rio Algom Ltd. Billiton will purchase the Canadian copper firm for US$1.2 billion (1.33 billion euros).
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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