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Petroleum

Alaska Hires Top Antitrust Lawyer to Review BP-Arco Deal

Strategic Insights

— 1 min read

Alaska has tapped the services of leading antitrust lawyer David Boies to review the proposed $26 billion purchase of Atlantic Richfield Co. by BP Amoco. Boies, who has experience in high-profile antitrust cases, including the government's challenge to Microsoft's dominance of the computer operating systems market, will be part of a team of experts assembled by Attorney General Bruce Botelho to study the acquisition and its potential impact on the state. The review aims to ensure that the state's interests are protected, particularly with regards to antitrust considerations.

Key Takeaways:

  • David Boies, the lead lawyer on the Microsoft Corp. antitrust case, has been hired by the state of Alaska to review the $26 billion purchase of Atlantic Richfield Co. by BP Amoco.
  • Boies will be part of a team of experts assembled by Attorney General Bruce Botelho to study the acquisition and its potential impact on the state.
  • The review aims to ensure that the state's interests are protected, particularly with regards to antitrust considerations.
  • Boies' reputation as a top antitrust lawyer precedes him, having handled notable cases in the past, including the Resolution Trust Corp. vs. Mike Milken and the CBS Inc. libel suit.
  • Alaska's Legislative leaders have also hired law firms to study the acquisition, with Preston, Gates and Ellis reviewing state antitrust implications and Collier, Shannon, Rill and Scott studying federal antitrust laws and procedures.
  • The state House Committee on World Trade and State and Federal Relations has held three hearings on the purchase and is scheduled to take testimony from the presidents of BP's and Arco's Alaska operations.

Statistics:

  • $26 billion: The proposed purchase price of Atlantic Richfield Co. by BP Amoco.
  • $270: The hourly rate of David Boies, which Alaska will pay, half his normal rate.
  • $250,000: The estimated cost of the state's review of the BP-Arco deal.
  • 4 years: The estimated decline in the beluga whale population in Cook Inlet, which had prompted conservation groups to request removal of 70 tracts from the lease sale.

Sources:

  • "Anchorage Daily News", Juneau Bureau, Robert Kowalski, June 16, 1999
  • "Anchorage Daily News", Peninsula Bureau, Robert Kowalski, June 16, 1999

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