British Petroleum to acquire Amoco in $48.2 billion deal
Article Abstract:
British Petroleum PLC of the UK agreed on Aug. 11, 1998, to purchase US-based Amoco Corp. for $48.2 billion in a stock deal. The combined company, which will be known as BP Amoco PLC and will be headquartered in London, UK, would have a petroleum production at some three million barrels daily of oil and gas. The British Petroleum-Amoco deal calls for British Petroleum to own 60% of BP Amoco's equity, with the remaining 40% of the equity to be owned by Amoco. In addition, Amoco's investors will receive 3.97 British Petroleum ordinary shares for every Amoco share in the form of BP Amoco American depositary receipts. In October 1998 or November 1998, British Petroleum and Amoco's investors are anticipated to vote on the transaction and have the same completed by the end of 1998.
Comment:
Agrees on 8/11/98 to purchase US-based Amoco Corp for $48.2 bil in a stock deal, US
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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U.N council nears Iraq resolution
Article Abstract:
The United Nations Security Council could reach a deal on a new resolution for the transfer of sovereignty in Iraq. This comes after fence-mending talks between the U.S. and countries that opposed its invasion of Iraq.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
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