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Knowles to fight Exxon Mobil lawsuit

By Ragsdale, Rose
Publication: Alaska Journal of Commerce
Date: Sunday, April 9 2000

Alaska will move to intervene in Exxon Mobil's lawsuit blocking the $7 billion sale of Atlantic Richfield Co's Alaska assets to Phillips Petroleum Co. and urged the Federal Trade Commission to move ahead with approving BP Amoco's acquisition of ARCO, Gov. Tony Knowles announced at news conference

March 30.

Saying the lawsuit filed by Exxon Mobil is without merit and hinders efforts to restore stability in Alaska's oil patch and get Alaskans back to work, Knowles outlined several actions Alaska will take that are designed to put BP's acquisition of ARCO back on track.

"Alaskans want to get back to work today," Knowles said. "This acquisition has put oil development in Alaska in limbo and disrupted the lives of thousands of Alaskans for too long."

Alaska will oppose Exxon's lawsuit filed in a California court Mardi 24, which attempts to block resolution of the merger.

In phone calls by the governor and a letter from Attorney General Bruce Botelho, the administration is also urging the FTC not to delay approval of the merger between BP Amoco and ARCO.

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