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Article: BP, Alaska to Resume Talks on Assets Sales.
- Article from:
- The Oil Daily
- Article date:
- November 3, 1999
- Author:
CopyrightCOPYRIGHT 1999 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BP Amoco and Alaska will resume negotiations on asset divestitures relating to the major's plan to acquire fellow Alaska producer Arco as early as this week, while, at the same time, BP tries to squelch speculation that US antitrust regulators plan to block the deal.
The pronouncement came after BP triggered a provision in US antitrust laws late Monday that forces the Federal Trade Commission (FTC) to make a ruling on the Arco deal within 20 days. The move prompted Alaska Gov. Tony Knowles to suspend talks with BP and ask FTC to reject the acquisition outright (TOD Nov.1,p1).
Sources inside BP Amoco and Alaska said the two sides plan to meet in the ...