OGJ Newsletter

U.S. INDUSTRY SCOREBOARD 5/17 [44,070 bytes] Mergers and acquisitions are taking center stage in the petroleum industry again, with the emergence of several takeover bids by European firms and some new merger rumors (see story, p. 30). Among the latest rumors is that Chevron and Texaco are in preliminary discussions about a possible union. This was put forth on May 10 by the Wall Street Journal, which reported that the deal would value Texaco at $42 billion. The speculation died down quickly, however, as a deal did not appear imminent. While the firms would seem a natural union in some respects (they already have an Asian refining joint venture, Caltex), ...

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