COMPANY NEWS: Plains All American to buy Pacific Energy for $2.4 billion

Plains All American Pipeline LP, Houston, has agreed to buy Pacific Energy Partners LP of Long Beach, Calif., for $2.4 billion, including the assumption of debt and other costs. The cash and stock transaction is expected to close by yearend.June was dotted with several multibillion dollar deals, including Anadarko Petroleum Corp.’s announcement it would buy Kerr-McGee Corp. in Oklahoma City and Western Gas Resources Inc., Denver, in separate cash transactions totaling $21.1 billion, plus assumption of $2.2 billion debt (see story, p. 30).Other recent high-dollar deals included: Shell Canada Ltd. said a subsidiary is moving closer to completing the $2.4 billion (Can.) takeover of Bla...

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