Phillips Petroleum Company has announced that the European Commission has completed its investigation of Phillips’s proposed merger with Conoco Inc. The Commission determined that the proposed merger did not raise any competition concerns, and therefore cleared the merger without any undertakings. Phillips also announced that the Canadian Commissioner of Competition issued an Advance Ruling Certificate on 12 February 2002, thereby clearing
the merger as proposed. As previously announced, the merger is expected to close in the second half of 2002.
