Petroleum
In a major blow to the three former executives of Archer Daniels Midland Co., a Chicago-based agribusiness giant, U.S. District Judge Blanche Manning has refused to reverse their convictions or grant them a new trial. The convictions, handed down by a jury on September 17, stemmed from a price-fixing
Petroleum industry
The $30 billion takeover of Amoco by British Petroleum (BP) has been cleared by American regulators, with only minor conditions attached. The Federal Trade Commission (FTC) has given its approval for the merger, which will create Britain's largest company with over 100,000 employees, on the condition that
Petroleum
In a move that shapes the global oil landscape, British Petroleum Co. has secured US approval to acquire Amoco Corp. for a staggering $61.7 billion. The deal creates the largest US gasoline retailer, with British Petroleum owning 17,900 stations and Amoco owning 9,300. To address antitrust concerns,
Petroleum industry
As the last business day of 1998 comes to a close, Amoco Corporation will cease to exist, with the company officially merging with British Petroleum Co. to form BP Amoco Plc., a new entity valued at approximately $54 billion. The Federal Trade Commission has given its approval for the merger,
Petroleum
BP and Statoil, the Norwegian oil and gas giant, are expected to sign new cooperation deals for countries where they have joint ventures following the proposed merger between BP and Amoco. The two companies have successfully collaborated in areas outside the North Sea and North America, including joint ventures in
Petroleum
Nalco Chemical Co. plans to trim 345 jobs, about 5 percent of its workforce, by the end of the year, citing declining sales in Asia and Latin America as well as cheaper chemical imports. The company will offer early retirement packages to approximately 500 employees, with the fate of others
Amoco Corp.
British Petroleum Co. plc (BP), Europe's second-largest oil company, has agreed to purchase U.S. major Amoco Corp. for $48 billion in stock, creating the world's third-largest oil company with a combined market capitalization of $110 billion. The merger will bring together BP's international
Amoco Corp.
British Petroleum, the world's third largest oil company, has announced plans to purchase Amoco Corp., a 1960s-era pioneer in the state's oilpatch, for $49 billion in a deal that would create an oil giant rivaling Royal Dutch/Shell Group and Exxon Corp. The combination, to be
