TAKEOVERS: A Bid for the Record Books

A Bid for the Record Books

It would become Canada's largest corporate takeover, and it is already a political football. When the House of Commons returns to work this week from Easter recess, lawmakers may take up the proposed $3.9 billion buyout of Dome Petroleum by the Canadian arm of Chicago-based Amoco, fifth largest U.S. oil company. Dome's board, faced with $4.9 billion in debt, last week accepted the offer. But Toronto-based TransCanada PipeLines, which underbid Amoco by $600 million, vows to keep up the fight.

Ed Broadbent, leader of the socialist New Democratic Party, calls the Amoco bid a "black day for Canada," because it would...

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