Burger won’t block proposal by U.S. Steel to buy Marathon

Chief Justice Warren Burger refused Wednesday to block U.S. Steel Corp.’s proposed takeover of Marathon Oil Co. Burger turned down an emergency request by rival bidder Mobil Corp. to postpone the Jan. 7 date that U.S. Steel expects to begin buying Marathon’s shares under its $125-a-share tender offer. But the chief justice’s action left open the chance that Mobil could return to him soon. Burger denied the request “without prejudice,” citing a Supreme Court rule that disallows such emergency motions that have not been denied first by appropriate lower courts. Mobil, the nation’s second-largest oil company, asked Justice Sandra O’Connor on Tuesday to freeze the takeover fight until the full Supreme Court has a chance to hear a formal appeal the company filed Tuesday. The appeal challenges a ruling by the 6th U.S. Circuit Court of Appeals preventing Mobil from buying Marathon stock. Last week, the appeals court ruled that Mobil’s aoouisition of Marathon probably would- violate federal antitrust laws. Justice O’Connor, who hand les all emergency matters coming to the high court from the states encompassed by the 6th circuit, disqualified herself. Following court custom, Justice O’Connor did not explain why she took herself out of the case. Justice O’Connor and her husband, attorney John J. O’Connor III, are spending part of the holidays at their Paradise Valley home. O’Connor, contacted by phone at their home, said he could not comment on court matters in which his wife is involved.