Elf planning to fight TotalFina takeover

07/19/1999
Elf Aquitaine SA is preparing a plan to fight off a takeover bid by TotalFina SA, but exactly when details of the plan will be announced is not clear.On July 5, TotalFina surprised Elf with a 42 billion euro ($41.2 billion) takeover bid, in which four TotalFina shares would be exchanged for three Elf shares.Elf Chairman and CEO Philippe Jaffré promptly declared TotalFina`s bid to be hostile, while TotalFina said its offer represented a premium of 15% over Elf`s closing share price preceding the move (OGJ, July 12, 1999, p. 22).An Elf official told OGJ on July 13 that the company is required to file a statement with the Paris stock exchange authorities on July 22, to say whether or ...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected