TAKEOVER BATTLE FOR DOME PETROLEUM BEGINS A takeover battle began today for debt-burdened Dome Petroleum Ltd <DMP.MO> as TransCanada PipeLines Ltd <TRP.TO> announced a 4.3 billion dlr offer and Dome said it is continuing talks with other possible buyers. Companies mentioned in market speculation as potential buyers for Dome include Imperial Oil Ltd <IMO.A> which is 70 pct owned by Exxon Corp <XON.N>, <PanCanadian Petroleum Ltd> which is 87 pct owned by the conglomerate Canadian Pacific Ltd <CP.N> and British Petroleum Co Plc <BP.L>. Along with the TransCanada offer, Dome has had another proposal from "a substantial company" and discussions with a third company which could lead to an offer, Dome said in a statement. The statement confirmed Dome received TransCanada's bid, but did not identify the companies involved in talks. TransCanada, Canada's largest natural gas pipeline operator, said it is offering Dome a package of cash, common and preferred shares, and shares in a new subsidiary which would own and operate Dome's assets. TransCanada said the offer is to Dome management, not to shareholders. Dome has massive oil and gas landholdings in Canada, totalling 36.1 mln acres of which 7.4 mln have been developed. It also has tax credits worth about 2.5 billion dlrs. Dome's statement said the TransCanada announcement "violated the terms and spirit of a confidentiality agreement entered into with prospective purchasers" and was apparently timed to prevent Dome from considering other proposals. It said the TransCanada bid "seems to require favourable and substantial taxation concessions from the federal and provincial governments." But Dome added that its management and financial advisers will evaluate all proposals. TransCanada chief financial officer H. Neil Nichols said he was surprised at the vehemence of Dome's statement and denied that TransCanada was trying to usurp other bids. "I find (Dome's statement) very bothersome. Once the board made the decision to authorise the proposal, it had a legal obligation to announce it," he said. Nichols said he did not know the identity of the other bidders, or the terms of other offers. Dome common shares closed at 1.13 dlrs on Friday on the Toronto Stock Exchange. The preferred class A stock closed at 5.00 dlrs. Common stock traded as high as 25.00 dlrs in 1981.