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Standard Oil Co Of Ohio

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BUSINESS
April 8, 1987 | DONALD WOUTAT, Times Staff Writer
British Petroleum's bid for Standard Oil, combined with a recent drumbeat of publicity about dwindling U.S. oil reserves, has made a 14,500-foot hole in northern Alaska the most talked about oil drilling project since the ill-fated Mukluk well of 1984. That well, on Alaska's Mukluk Island, cost $430 million and turned out to be the most expensive drilling failure in history when it turned up dry.
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BUSINESS
May 27, 1987
About to be taken over by British Petroleum, Standard said it is selling certain diversified industrial and financial holdings to Shearson Lehman Bros. The securities firm, which indicated that it parceling out the holdings for other investors, has already agreed to sell about $190 million worth of assets and has no plans to run any operations on a long-term basis. "We are not left holding substantial assets," said a Shearson spokesman.
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BUSINESS
April 7, 1987 | DONALD WOUTAT, Times Staff Writer
Raising the prospect of a billion-dollar family spat, investment bankers hired by Standard Oil Co. said Monday that the company's stock is worth at least $85 a share instead of the $70 offered last month by controlling partner British Petroleum. A report commissioned by Standard Oil's board said the $7.
BUSINESS
April 29, 1987 | DONALD WOUTAT, Times Staff Writer
British Petroleum won the lukewarm support of Standard Oil's board Tuesday with a sweetened offer for the 45% of Standard's shares it doesn't already own. Standard Oil's approval of the deal, which boosts the per-share price and adds other inducements said to raise the offer to the $74-per-share range from an initial $70, appeared to improve prospects that the transaction would go through without a long family fight.
BUSINESS
April 15, 1987 | JESUS SANCHEZ, Times Staff Writer
Standard Oil, wrestling with whether to urge its shareholders to sell out to British Petroleum, said Tuesday that it has put off making a recommendation for now. The Cleveland-based oil firm said a special committee of its directors had been unable to agree on the fairness of the $70-a-share tender offer because of differing views from investment bankers.
BUSINESS
May 27, 1987
About to be taken over by British Petroleum, Standard said it is selling certain diversified industrial and financial holdings to Shearson Lehman Bros. The securities firm, which indicated that it parceling out the holdings for other investors, has already agreed to sell about $190 million worth of assets and has no plans to run any operations on a long-term basis. "We are not left holding substantial assets," said a Shearson spokesman.
BUSINESS
April 29, 1987 | DONALD WOUTAT, Times Staff Writer
British Petroleum won the lukewarm support of Standard Oil's board Tuesday with a sweetened offer for the 45% of Standard's shares it doesn't already own. Standard Oil's approval of the deal, which boosts the per-share price and adds other inducements said to raise the offer to the $74-per-share range from an initial $70, appeared to improve prospects that the transaction would go through without a long family fight.
NEWS
August 24, 1986 | United Press International
Civilization got off to a slow start in Mexico, lagging about 5,000 years behind civilization in the fertile crescent of the Middle East. A University of Wisconsin professor of botany thinks the delay can be blamed on differences in plants. Speaking at a recent international symposium, Hugh Iltis said New World civilization developed slowly because the basic food crop first cultivated in Mexico was corn.
BUSINESS
April 3, 1986 | From Times Wire Services
Reagan Administration officials Wednesday sought to dispel the notion that Vice President George Bush's mission to the Middle East this weekend will be one of "beating up on the Saudis" to achieve oil production curbs. As Bush was speaking Tuesday, contracts for May delivery of oil were plunging below $10 a 42-gallon barrel on the New York Mercantile Exchange for the first time since the mid-1970s. After word of his remarks hit the market, the price shot up to close at $11.27.
BUSINESS
February 9, 1990 | PATRICK LEE, TIMES STAFF WRITER
The oil spill that fouled waters off Huntington Beach Wednesday night could also darken the long-term plans of British Petroleum, the oil industry titan that chartered the ill-fated tanker. Since BP--the world's third-largest private oil company--only chartered the tanker that spilled oil, it won't have to assume direct costs for the cleanup and can expect to avoid the billions of dollars in losses that Exxon Corp.
BUSINESS
April 15, 1987 | JESUS SANCHEZ, Times Staff Writer
Standard Oil, wrestling with whether to urge its shareholders to sell out to British Petroleum, said Tuesday that it has put off making a recommendation for now. The Cleveland-based oil firm said a special committee of its directors had been unable to agree on the fairness of the $70-a-share tender offer because of differing views from investment bankers.
BUSINESS
April 8, 1987 | DONALD WOUTAT, Times Staff Writer
British Petroleum's bid for Standard Oil, combined with a recent drumbeat of publicity about dwindling U.S. oil reserves, has made a 14,500-foot hole in northern Alaska the most talked about oil drilling project since the ill-fated Mukluk well of 1984. That well, on Alaska's Mukluk Island, cost $430 million and turned out to be the most expensive drilling failure in history when it turned up dry.
BUSINESS
April 7, 1987 | DONALD WOUTAT, Times Staff Writer
Raising the prospect of a billion-dollar family spat, investment bankers hired by Standard Oil Co. said Monday that the company's stock is worth at least $85 a share instead of the $70 offered last month by controlling partner British Petroleum. A report commissioned by Standard Oil's board said the $7.
NEWS
March 27, 1987 | MICHAEL A. HILTZIK, Times Staff Writer
British Petroleum, apparently confident that OPEC has regained control of world oil prices, Thursday offered $7.4 billion for the 45% of Standard Oil Co. of Ohio it does not already own. Oil industry observers treated the bid as a clear signal that BP, the world's third-largest oil producer, expects prices to stabilize at roughly $18 a barrel or higher, a level at which its offer for Standard Oil appears to be financially prudent.
BUSINESS
September 29, 1985 | VICTOR F. ZONANA, Times Staff Writer
The word on the street was that San Francisco real-estate czar Walter H. Shorenstein was losing his clout. Never mind that the 70-year-old checkbook Democrat controlled more than 25% of this city's downtown office space and was estimated by Forbes magazine to be worth at least $300 million. Things just hadn't been going Shorenstein's way.
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