OGJ Newsletter

U.S. INDUSTRY SCOREBOARD 6/28 [43,929 bytes] Mergers, acquisitions, and takeovers are leading energy industry news again, with various deals being accepted, rejected, and completed. Norsk Hydro has beat out Elf in the battle for control of Saga and, in doing so, has increased government domination of Norway's petroleum industry. A Hydro official told OGJ that 90% of Saga shareholders were in favor of the Hydro bid vs. a threshold of 70% (OGJ, June 21, 1999, p. 24). An extraordinary general meeting of shareholders was set for June 23 to rubber-stamp the deal. "If everything goes okay at the meeting," said the source, "then the actual transaction is pla...

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