States, FTC settle with BP Amoco and ARCO
SEATTLE - April 13, 2000 - Washington state, Oregon, California and the Federal Trade Commission (FTC) today filed settlement papers that clear the way for the merger of BP Amoco and ARCO.
The states and the FTC challenged the proposed merger of the two oil giants, alleging that it could have led to higher crude oil prices or tightened supplies for refiners in the western states by reducing the number of suppliers of Alaskan crude oil. The states’ concern was that this could lead to higher consumer prices for gasoline.
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