VOL. XXXIX

No. 27

1-April-1996

EGYPT

Apache To Take Over Phoenix's Egyptian Assets Under Proposed Merger

Apache Corporation of Houston announced on 28 March that it has entered into a merger agreement with Phoenix Resources Companies of Oklahoma City, under which shareholders of Phoenix will receive 0.75 shares of Apache common stock plus $4.00 in cash in exchange for each share of Phoenix common stock. Phoenix has approximately 16.1mn shares outstanding. The merger is subject to...