BP Amoco, Arco File Merger Notice

Lawyers for BP Amoco and Atlantic Richfield Co. met for 90 minutes with Federal Trade Commission staffers, and then the companies filed notice with the FTC that they intend to complete their $27-billion merger after 20 days. “It was described as a cordial meeting,” said a spokesman for BP Amoco. The two oil companies have been waiting for more than nine months for FTC approval of the combination, but FTC staff reportedly is concerned about the impact of the merger on West Coast gasoline markets. The FTC is expected to challenge the merger in court rather than allow it to be completed on Feb. 4, the day after the 20-day waiting period ends. An FTC spokeswoman declined to discuss the proposed merger or the Friday meeting.