BP-Amoco finish merger after FTC approval

The U.S. Federal Trade Commission has allowed British Petroleum Co. plc and Amoco Corp. to merge if they sell 134 gasoline stations and nine terminals and allow more than 1,600 independent gasoline stations to switch suppliers. On Dec. 31, BP and Amoco completed the $53 billion merger transaction, announced Aug. 11 (OGJ, Aug. 17, 1998, p. 34). Stocks buoyed The companies closed the transaction shortly after 9:00 p.m. London time on Dec. 31, when the shares of the merged group, BP Amoco plc, were listed on the London Stock Exchange. American Depository Shares of BP Amoco were subsequently listed on the New York Stock Exchange and the Pacific, Chicago, and Toronto stock exchanges t...

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