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Gold/Mining/Energy : Alaska Natural Gas Pipeline

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From: Snowshoe	6/19/2007 6:35:14 PM
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CH2M Hill agrees to acquire scandal-plagued VECO ________________________________________________ ktva.com Associated Press Article Last Updated: 06/18/2007 12:19:33 PM AKDT A Denver-based company says it has agreed to acquire VECO Corporation, the oil field services company whose founder pleaded guilty to federal charges of bribing Alaska legislators. CH2M Hill is a management, design and construction firm. Spokesman John Corsi says the company has agreed to acquire core VECO assets and staff valued at 365 million dollars. The companies say the deal valued VECO at 463 million dollars. That amount includes assets that will not be part of the proposed acquisition. The companies say they expect to finalize details of the acquisition -- along with a transition and integration plan -- by the end of August. VECO's founder and former CEO Bill Allen pleaded guilty last month to bribing state lawmakers in exchange for votes favoring industry on oil legislation. Rick Smith, VECO's former vice president of community and government affairs, also pleaded guilty to federal charges. Both resigned. Corsi says CH2M Hill feels the scandal was an isolated issue and not a concern in the deal. He says CH2M Hill was attracted

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