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BRIEFLY

December 22, 1987

The Canadian government formally approved the takeover of debt-ridden Dome Petroleum Ltd. by the Canadian subsidiary of Chicago-based Amoco Corp. The deal is valued at $4.18 billion ($5.5 billion Canadian). Approval was not the final hurdle that Amoco Canada Petroleum Ltd. faces in completing the takeover. At a court hearing scheduled for Jan. 26 in Calgary, Amoco will ask the Alberta Court of Queen's Bench to rule on whether enough Dome creditors and shareholders support the Amoco bid for it to proceed. Although Dome's secured lenders have approved the takeover, Swiss bondholders and some unsecured creditors and shareholders want to block the deal on grounds that Amoco's rescue plan would not return enough of their money.

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