States, FTC allow Phillips/Conoco Merger to Proceed
Seattle -- Washington state, along with seven other states and the Federal Trade Commission (FTC), today filed settlement papers that clear the way for the merger of Phillips Petroleum Company and Conoco, Inc.
Today’s settlement was reached after the companies made major concessions, including agreeing to sell a gasoline terminal in Spokane; a refinery and related retail outlets in Utah and Colorado; natural gas gathering and processing properties and other related assets in Texas and New Mexico; and propane and retail outlets in Missouri.