ConocoPhillips says the waiting period for its acquisition of Burlington Resources Inc. under a federal antitrust act has expired, moving it closer to completing the deal.
Offshore staff
(US) - ConocoPhillips says the waiting period for its acquisition of Burlington Resources Inc. under a federal antitrust act has expired, moving it closer to completing the deal.
The No. 3 US oil company said the deal, worth an estimated $35.6 billion at its December announcement, is expected to close in the first half of the year, following the expiration of the waiting period under the Hart-Scott-Rodino antitrust act.
The deal's closing is now contingent on the approval of Burlington shareholders.
It is expected to close in the first half of 2006.
