Sweaty palms time at two ad agencies following announcement of the $35 billion merger between two oil giants – Phillips Petroleum Company and Conoco. The deal requires federal approval.

Awaiting news of their fate – not expected before the second half of 2002 when the merger, if allowed, should be concluded – are Omnicom unit DDB Worldwide in Dallas (Phillips) and the Warren, Michigan office of Campbell-Ewald, a member of the Interpublic Group,.

According to Phillips, the issue of which of the two brands will be the flagship will not be addressed until next year.

News source: AdAge.com