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Vastar Resources Inc

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BUSINESS
May 25, 2000 | Bloomberg News
BP Amoco's plan to buy the 18% of Vastar Resources Inc. that it doesn't own was approved by the natural-gas explorer's board after BP sweetened the offer to $83 a share, or $1.47 billion. The bid values all of Vastar at $8.1 billion. BP had offered $71 a share on March 16. The sale still must win support from holders of at least two-thirds of the remaining 17.7 million Vastar shares. BP, based in London, acquired 82% of Vastar in last month's $33.1-billion buyout of Atlantic Richfield Co.
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BUSINESS
May 25, 2000 | Bloomberg News
BP Amoco's plan to buy the 18% of Vastar Resources Inc. that it doesn't own was approved by the natural-gas explorer's board after BP sweetened the offer to $83 a share, or $1.47 billion. The bid values all of Vastar at $8.1 billion. BP had offered $71 a share on March 16. The sale still must win support from holders of at least two-thirds of the remaining 17.7 million Vastar shares. BP, based in London, acquired 82% of Vastar in last month's $33.1-billion buyout of Atlantic Richfield Co.
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BUSINESS
July 20, 1994 | From Times Staff and Wire Reports
Arco Expects Gain From Vastar Sale: The Los Angeles-based oil company said it will realize an after-tax profit of about $270 million from selling 17.7% of its Houston gas subsidiary, Vastar Resources Inc. Atlantic Richfield Co. sold 17.25 million shares of Vastar earlier this month for $28 each. The proceeds, to be reflected in third-quarter accounts, are to be used for general corporate purposes but not to pay debt.
BUSINESS
July 20, 1994 | From Times Staff and Wire Reports
Arco Expects Gain From Vastar Sale: The Los Angeles-based oil company said it will realize an after-tax profit of about $270 million from selling 17.7% of its Houston gas subsidiary, Vastar Resources Inc. Atlantic Richfield Co. sold 17.25 million shares of Vastar earlier this month for $28 each. The proceeds, to be reflected in third-quarter accounts, are to be used for general corporate purposes but not to pay debt.
BUSINESS
October 25, 1994 | From Times Wire Services
Big oil companies reported generally stronger quarterly results Monday, reflecting higher prices for crude oil but weaker refining profits and a sharp drop in natural gas prices. Exxon Corp., the biggest U.S. oil company, reported a 15% drop in earnings compared to last year's results, which were inflated by one-time gains. Without those, Exxon would have shown a 10% earnings increase this year. Atlantic Richfield Co.
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