BP Amoco-ARCO merger hits snags in Alaska; concessions required

This processing plant at Prudhoe Bay, Alas., is part of the massive holdings of BP Amoco Exploration in the state. BP Amoco PLC sees the combination of its Alaskan assets with ARCO's as a "compelling strategic and geographic fit of quality assets," but Alaska Gov. Tony Knowles sees the combine as potentially too dominant for the good of the state. Photo courtesy of BP Amoco.Click here to enlarge imageSince BP Amoco PLC announced its planned takeover of ARCO in early April, the company has made few public pronouncements about the deal, which is pending approval by US, Alaskan, and European authorities.The deal values ARCO at $26.8 billion and is expected to lead to the creation of a c...

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