Company news: M&A action heating across industry sectors

The merger and acquisition (M&A) bug continues to bite indiscriminately at both upstream and downstream companies, while other companies are forming strategic partnerships.In one of the larger M&A deals recently announced, Sunoco Inc., Philadelphia, unveiled plans to acquire Pittsburgh-based Aristech Chemical Corp. from Japan's Mitsubishi Corp. for $695 million in cash, including $115 million for working capital.KeySpan Energy Corp., Brooklyn, NY, said it will purchase Gulf Canada Resources Ltd.'s 50% interest in Gulf Midstream Services (GMS), making KeySpan the sole owner of the midstream services company. KeySpan recently completed its acquisition of Eastern Enterprises, Weston,...

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