Word: arco
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Dates: during 1980-1989
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...events could spur legislation more quickly than another big oil takeover. Flush with then" recent successes, Pickens and the Bass brothers might go after other companies. Arco, having been spurned in its bid for Gulf, may also start shopping. To be sure, there is not likely to be another combine of the size of the Gulf-Socal deal. But as long as the price of oil shares remains cheap compared with exploration costs, merger fever in the oil industry will be far from burned out. -By Alexander L. Taylor III. Reported by Richard Woodbury/San Francisco and Adam Zagorin/New York
...Arco and Socal, including such non-oil giants as General Electric and Allied. (Another rumored bidder: the government of Kuwait.) The firms were shown the confidential data only after pledging not to make an unfriendly takeover bid for at least three years. According to some Pittsburgh insiders, Gulfs board could meet at any time to discuss possible bids. The asking price could be as high as $80 a share, or $13.2 billion. The firm considered most likely to make that offer was Arco, on whose behalf Chase Manhattan bank was assembling a $12 billion line of credit from as many...
...Gulf acquisition by another major oil company would present some antitrust problems, but legal experts do not believe that the Reagan Administration would object. If either Arco or Socal buys Gulf, however, the Government might insist on the sale of some refineries and gas stations to preserve competition...
Students have also received offers from Sears. Arco and other creditors seeking business. The representative added that the corporation obtains lists of students' names from school directories and then "rents" these lists out for commercial purposes...
...Navaho Indians in Arizona and New Mexico successfully negotiated with Atlantic Richfield to turn an initial $300,000 ARCO offer for right-of-way to build a pipeline across their land into a contract that will bring the tribe $78 million over the next 20 years...