Merger OK'd.
Merger OK'd: U.S. and Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. utility commissioners gave the go-ahead last week for Houston-based Plains All American Pipeline Plains All American Pipeline (NYSE: PAA) is a publicly traded Master Limited Partnership in the oil pipeline transmission and storage business in the United States. It owns about 37 million barrels (5,900,000 m³) of terminalling and storage capacity and 15,000 miles (25,000 L.P. to acquire Long Beach-based Pacific Energy Partners L.P. The deal, first announced in June June: see month. , is for $2.4 billion and remains subject to shareholders approval by both companies. It is expected to be complete by the end of the year, with Pacific Energy trading under Plains' symbol of PAA. Plains All American primarily handles crude oil transportation and storage, as well as the marketing and storage of liquefied petroleum gas liquefied petroleum gas or LPG, mixture of gases, chiefly propane and butane, produced commercially from petroleum and stored under pressure to keep it in a liquid state. in the U.S. and Canada. Pacific Energy transports, stores and distributes crude and refined oil, primarily on the West Coast.
COPYRIGHT 2006 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion