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BUSINESS
July 10, 1986
Diamond Shamrock Corp., Dallas, said J.L. Jackson resigned as president, chief operating officer and a director "for personal reasons." Chairman and Chief Executive William H. Bricker will assume the president's title. The company said it eliminated the position of chief operating officer "due to the consolidation of our exploration companies, the intended sale of our chemicals and coal businesses and the desire to operate with a flatter organization."
NEWS
January 7, 1985 | From Associated Press
Merger talks between Occidental Petroleum Corp. and Diamond Shamrock Corp. were terminated today, just hours after managements of the two big oil companies announced they had reached tentative agreement on a tax-free stock-swap deal valued at about $3 billion. Boards of both companies met through the morning to consider the merger. It was not immediately clear which of the boards rejected the plan.
BUSINESS
June 19, 2002 | Bloomberg News
Valero Energy Corp. said it plans to sell at least 325 gasoline stations and limit the number of U.S. brand names it uses in an effort to improve its retail network. The San Antonio-based company is reassessing its 1,425 retail sites, after the $5.34-billion acquisition of rival Ultramar Diamond Shamrock Corp. in December. The company will keep the Valero name in California and eventually phase out the other three brands it uses there: Exxon, Beacon and Ultramar.
NEWS
January 18, 1986 | From Times Wire Services
A tank containing 2,000 pounds of a caustic chemical exploded Friday, killing two persons, injuring at least 18 and sending a green chemical cloud into the air. The late-morning explosion at the Diamond Shamrock Corp. plant caused a small fire and released a cloud of ammonium dichromate. Rain and wind helped break up the cloud and carry it over Lake Erie, where it posed no danger, authorities said. Plant spokesman Barry Schenker said the chemical ignited in a dryer and caused the explosion.
BUSINESS
April 10, 1985
Speculation that Unocal Corp. might be trying to buy another oil company to fend off the takeover attempt by Texas oilman T. Boone Pickens apparently caused Unocal stock to drop Tuesday. At the same time, the stock of its rumored merger partner, Dallas-based Diamond Shamrock Corp., rose. In composite trading on the New York Stock Exchange, Unocal fell $1.75 to close at $48. More than 2.
BUSINESS
February 10, 1987 | Associated Press
Investors led by T. Boone Pickens Jr. dropped a tender offer for Diamond Shamrock Corp. on Monday after the energy company rejected a proposal to make the bid an all-cash deal worth $2.1 billion. Diamond Shamrock's board voted Sunday to reject the $15-a-share offer and proceed with its own plan to buy back 20 million common shares for $17 apiece as part of a restructuring that would split the company in two.
BUSINESS
April 9, 2001 | Reuters
The new stock-offerings calendar is almost bare again this week. One U.S. company is scheduled to debut on Wall Street--and it's not even a typical new issue. Despite the drought in initial public offerings amid the wave of disheartening corporate earnings news and sinking stock prices, Shamrock Logistics plans to go public in a deal that could raise around $100 million. Goldman Sachs is the lead manager of the Shamrock Logistics IPO.
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