EU clears merger of TotalFina, Elf after modifications

Article Abstract:

TotalFina SA's planned merger with Elf Aquitaine SA has been approved by the European Commission (EC). Both firms agreed to implement major sell offs in their home markets as part of the EC's approval.

European Union, PETROLEUM AND COAL PRODUCTS, Public affairs, Societe Nationale Elf Aquitaine S.A.

TotalFina makes bid of 42 billion euros for Elf in scramble for size

Article Abstract:

TotalFina SA of France has made an unsolicited 42 billion euro takeover bid for Elf Aquitaine SA, a domestic rival. The bid is an all-stock deal. The deal would form the largest company in France, in terms of stock market capitalization. TotalFina is attempting to create a new oil giant in the European market. The proposed acquisition has been seen as one of the more probable deals to occur in the rapidly-expanding oil industry.

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TotalFina makes unsolicited 42 billion euro takeover bid for Elf Aquitaine

Abstract

French regulator clears TotalFina's bid for Elf

Article Abstract:

TotalFina SA's proposed 42 billion euro acquisition of Elf Aquitaine SA was approved by Conseil des Marches Financiers, a French stock market regulator. However, TotalFina still requires several more approvals before it can formally begin its all-stock unsolicited offer for Elf. The deal would form the fourth-largest oil group in the world. Philippe Jaffre, the chairman of Elf, said he would attempt an "initiative" to fight off the offer.

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TotalFina's proposed 42 billion euro acquisition of Elf approved by Conseil des Marches Financiers