COMPANY NEWS: Pure evaluates Unocal offer to acquire outstanding shares

09/02/2002
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...
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