Phillips Conoco merge in 15.4 billion stock deal
Phillips Petroleum and Conoco Inc. announce a merger in a 15.4 billion stock deal creating ConocoPhillips, the third largest U S oil company with about 17 000 filling stations and 58 000 employees. The deal would place the new firm behind Exxon Mobil and ChevronTexaco and is awaiting shareholder and regulatory approval for a late 2002 close.
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Bush to Sign Airport Security Bill at National Airport
President Bush signs a sweeping aviation security bill at Reagan National Airport to transfer passenger and baggage screening to the federal government and place 28,000 screeners on the federal payroll. The plan imposes new checks, adds officers at screening posts, and imposes a $2.50 per-passenger security fee with a $5 cap on multi leg journeys.
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