Word: merger
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...week wasn't all sweet. Between the creation of StatoilHydro, as the company is known for now (the firm is still mulling over a permanent name change), and the royal ceremony, Reiten was generating headlines of his own. On the day of the merger, StatoilHydro announced it had launched a probe into the legality of approximately $7 million in consultancy fees and expenses Hydro paid as part of its oil operations in Libya. Although it has not disclosed the name of the consultancy Hydro paid or what laws it might have broken, StatoilHydro said the payments came to light during...
...week Eivind Reiten is unlikely to forget. On Oct. 1, the oil and gas arm of Hydro, an Oslo-based energy and metals company he was running, completed a $36 billion merger with Statoil, its beefier Norwegian rival, creating the world's largest offshore energy operator. Five days later, Reiten hosted his country's King and Queen in Nyhamna, a third of the way up Norway's west coast, at the official launch of a record-breaking gas production and processing project forged by Hydro to harness gas from 120 km away under the Norwegian...
...ultimately failed, but only because of a technicality: the state’s Supreme Judicial Court refused to let MIT sell its Back Bay land to fund the merger...
...with the proposed MIT merger, the plan has drawn its share of criticism, largely from those who argue that a technological school and a liberal arts education are mutually incompatible. But unlike Eliot and Pritchett, today’s faculty and administrators feel they have the opportunity—and the obligation—to prove those critics wrong...
This history begins in 1847, with the founding of the Lawrence Scientific School, which was independent from the College. Although it initially succeeded in attracting a large number scholars, the school began to founder under increasing competition from MIT. After the failed merger, the Lawrence School formally dissolved...