FTC casts wary eye on oil deals

Article Abstract:

Antitrust experts say the proposed $35.1 billion merger between Chevron and Texaco would likely face close scrutiny from federal regulators, more so that the merger comes at a time when oil prices are high. They add that the merger between the two oil companies may be difficult to push through since past consolidations in the petroluem industry has left a shrinking pool of players. Both firms may also have be asked to sell overlapping assets especially those that are viewed as being anticompetitive to consumers, such as gas stations.

Texaco Inc.

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Buffett buys 2% chunk of Honeywell

Article Abstract:

Warren Buffet buys a 2% stake in Honeywell, a maker of industrial products.

ELECTRONIC & OTHER ELECTRIC EQUIPMENT, Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Honeywell Inc., HON

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BP, Amoco nozzle up: oil companies pump out $50 billion merger deal

Article Abstract:

Amoco will be acquired by British Petroleum (BP) in an all-stock deal valued at $49.6 billion. The new company, to be named BP Amoco, will have a combined revenue of $108 billion to become the world's second-largest oil company after Exxon. Some 6,000 jobs, including several hundred in Amoco's headquarters in Chicago, IL, are expected to be eliminated. BP's about 6,750 gas stations in the US will be renamed Amoco and integrated with Amoco's 9,600 stations. The consolidation of gas stations will have about 15% of the US market.

Comment:

To acquire Amoco Corp in an all-stock deal valued at $49.6 billion

United Kingdom, Organizational history, British Petroleum Company PLC, BP PLC, Amoco Corp., Article

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