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

Foreign operations, Petroleum, Petroleum and Coal Products Manufacturing, British Petroleum Company PLC, Amoco Corp., Article

---

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.

Gold Mines, Gold Ore Mining, Nonferrous Metals, Primary Metal Manufacturing, Mining & Extractive Industries, Mining, Gold industry, Gold mining, Metal products, Nonferrous metal industry, Nonferrous metal industries, Phelps Dodge Corp., Asarco Inc., Cyprus Amax Minerals Co.

---

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).

Canada, Copper ores, METAL MINING, Metal Ores, Metal Ore Mining, Metal industries, Metal industry, Ores, Billiton PLC, Rio Algom Ltd., ROM

Similar abstracts:

• Abstracts: NBA ads shoot for home advantage. Changes brewing at coffee chains. Yuk Yuk's sets its sights on comeback
• Abstracts: Checkpoint is set to make an offer for Meto in Europe. Public Service's bid to acquire Cinergy hits a snag. FirstEnergy is negotiating to acquire GPU
• Abstracts: Hungarian market for depilatories. German market for bath & shower products. Market size: oral hygiene - per capita value
• Abstracts: Toronto dailies hit by transit papers. Carat buys minority stake in Cairns
• Abstracts: Subsector size: lenses by type - value. Subsector shares: spectacle lenses - manufacturer. Subsector size: spectacle lenses by material - value

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.