EIA says U.S. gas mergers growing

The value of U.S. gas industry mergers and acquisitions has risen nearly fourfold this decade, to $39 billion in 1997 from $10.4 billion in 1990, the U.S. Energy Information Administration reports. The increase parallels a surge in corporate combinations (mergers, acquisitions, joint ventures, and strategic alliances) across the U.S. energy sector, from $21.4 billion in 1990 to $106.4 billion in 1997, and then-with the announcement of such blockbuster mergers as British Petroleum plc with Amoco Corp. and Exxon Corp. with Mobil Corp.-to $220 billion in 1998. Gas industry combinations EIA said, "The growth in natural gas industry combinations does not indicate a decrease in...

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