CANADA STOCKS/DOME PETROLEUM LTD <DMP>
Dome Petroleum Ltd shares moved higher
in the U.S. and Canada after TransCanada PipeLines Ltd <TRP>
made a 4.3 billion Canadian dlr bid for Dome and Dome said it
is in talks with two other unidentified companies.
    Market speculation is that the other two potential bidders
are not Canadian companies and DuPont's <DD> Conoco and
Atlantic Richfield Co <ARC> are mentioned as possibilities,
Wilf Gobert of Peters and Co Ltd said.
    Dome rose 1/4 to 1-1/8 on the American Stock Exchange.
TransCanada PipeLines was down 1/4 at 15-3/4 on the New York
Stock Exchange.
    Dome was the most active stock on the Toronto exchange at
1.50 dlrs per share, up 37 cts.
    Gobert characterized the market action in Dome as "awfully
optimistic" but said investors are hoping for a competing offer
to the shareholders.
    TransCanada PipeLines' offer is to Dome management, not to
shareholders. However, it proposes issuing new equity in a
subsidiary that would operate Dome assets. Current Dome
shareholders would own 20 pct of the new subsidiary.
 Reuter
