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$15B Conoco-Phillips Merger OK’d

August 30, 2002

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WASHINGTON (AP) _ The $15.1 billion merger of Phillips Petroleum Co. and Conoco Inc. received federal approval Friday, clearing the way for completion of a deal that would create the third-largest U.S. oil and gas company.

The Federal Trade Commission voted 5-0 in favor of the deal, but required the companies to sell refineries in Utah and Colorado and certain operations in Missouri, Illinois, New Mexico, Texas and Washington state.

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