BP Amoco and Arco Plan Combination

Thursday, January 27, 2000
BP Amoco and Atlantic Richfield Co (ARCO) said they intend to take the next formal step towards closing the combination of the two companies. They accordingly propose to re-start the required 20-day notice, suspended on November 2, 1999, to the US Federal Trade Commission (FTC). The FTC has to date expressed concerns about the combination - concerns not shared by the companies. While the companies firmly believe the combination would enlarge, rather than adversely affect, competition, they have offered, but failed to get FTC acceptance for, a range of measures designed to meet the FTC's expressed concerns. BP Amoco and ARCO's proposed $26.8 billion combination was announced on April 1, 1999, with synergies and cost-savings estimated at $1 billion a year. Currently, BP Amoco neither refines nor markets on the US West Coast.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0808 sec (12 req/sec)