ARCO expected to sell unit to Lyondell

Article Abstract:

Atlantic Richfield Co. (Los Angeles, CA) is expected to agree to sell Arco Chemical Co. to Lyondell Petrochemical Co. for $57.75 a share, or about $5.6 billion. Atlantic Richfield (Arco) has been selling its holdings which are not related to oil or natural gas in an effort to focul on its core businesses. Arco sold its 49.9% stake in Lyondell last September, and recently sold its coal unit to Arch Coal Inc. for $1.14 billion. Lyondell's CEO Dan Smith has sought to boost the company's earning power by pooling resources with other major chemical makers to improve efficiencies, cut costs, and provide in-house markets for its basic chemicals.

Comment:

Atlantic RIchfield expected to agree to sell ARCO Chemical Co. to Lyondell Petrochemical Co. for $57.75/shr (or about $5.6 bil)

Chemicals & Allied Products, Chemical Manufacturing, Petrochemical Manufacturing, Petrochemicals, Chemicals, Lyondell Petrochemical Co., ARCO Chemical Co.

AIG to buy SunAmerica for $1.8 billion

Article Abstract:

American International Group Inc. (AIG) will acquire SunAmerica for almost $81 a share, or more than $18 billion in stock. The agreement launches AIG into the arena of financial services for individual investors. The transaction gives SunAmerica a triple-A-rated parent with a strong network and products to sell. The merger brings together two of the major insurance minds in the country SunAmerica's chairman and chief executive officer Eli Broad and AIG's chairman and chief executive officer Maurice Greenberg. Broad is expected to continue running SunAmerica.

Comment:

American International Group Inc. (AIG) will acquire SunAmerica Inc. for almost $81 a share, or more than $18 billion in stock

Insurance, Insurance Carriers and Related Activities, Direct Life Insurance Carriers, Annuity Insurance, American International Group Inc., Annuities, SunAmerica Inc.

AMP's antitakeover tactics rile holder

Article Abstract:

AlliedSignal's $10 billion takeover bid for AMP Inc. has resulted in a number of defensive moves by AMP, including lobbying for a change in Pennsylvania law to protect its interests. These antitakeover measures have prompted one of AMP's founding families to charge the company's board of directors with violating the interests of shareholders. The Hixon family, which owns about 4% of AMP, is the second largest shareholder, behind Fidelity Investments. AMP's board chairman continues to assert that AlliedSignal's offer is a low bid.

Comment:

Has attempted to acquire AMP in $10 bil takeover bid, which has resulted in defensive moves by AMP

Diversified Companies, Other Electrical Equipment and Component Manufacturing, Electronic Components, AlliedSignal Inc., AMP Inc.