Company News: Chevron raises its offer for Unocal about 5%

Chevron Corp. raised its offer for Unocal Corp. to $63.01/share of Unocal, up from its previous $60/share offer in a complicated deal that is 40% cash and 60% Chevron stock.In other recent company news:• Royal Dutch Petroleum Co. and Shell Transport & Trading Co. were merged into a single parent company, Royal Dutch Shell PLC, and its stock began trading July 20.• Pacific Energy Partners LP (PEP), Long Beach, Calif., agreed to buy five products terminals and a products pipeline with storage in the Rocky Mountains from Valero LP, San Antonio, for $455 million.Chevron-UnocalThe revised offer puts the value of the Chevron offer at about $17 billion, excluding the assumption...

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