COMPANY NEWS: Pure evaluates Unocal offer to acquire outstanding shares

Pure Resources Inc. reported late last month it wants a special committee of independent directors to evaluate a stock-swap acquisition offer from Union Oil Co. of California, a unit of Unocal Corp. New York-based Fitch Ratings valued the offer at slightly more than $400 million. Click here to enlarge imageBased on Unocal's Aug. 20 bid to acquire all minority shares of the Midland, Tex., independent, Pure stockholders will be offered 0.6527 share of Unocal common stock in a tax-free exchange for each outstanding share of Pure's common stock held. Unocal said it would issue some 12 million shares to complete the deal.In other recent company merger and acquisition news:Williams Ene...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected