March 13, 1985
The men discussed Houston-based Coastals's $2.2-billion bid to take over American Natural Resources, but they reached no agreement. "There may be future discussions between the two companies, but none have been scheduled," ANR spokesman Jim Bailey said after the meeting between ANR's Arthur R. Seder Jr. and Coastal's O.S. Wyatt Jr. in Detroit. Asked if the meeting meant that Detroit-based ANR was considering acquiescing to Coastal's buy-out attempt, Bailey said: "I have no comment."