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BUSINESS
April 4, 2000 | Bloomberg News
Houston-based Anadarko Petroleum Corp., an oil and natural gas explorer, said it will buy Union Pacific Resources Group Inc. for about $4.4 billion in stock and $2.8 billion in assumed debt, giving it cash to finance drilling projects and more oil land in North America than any rival. Anadarko will exchange 0.455 of a share, or $17.60, for each Union Pacific Resources share, 21% above Friday's close. The combined company will have $4.1 billion in debt and annual cash flow of $1.
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BUSINESS
April 4, 2000 | Bloomberg News
Houston-based Anadarko Petroleum Corp., an oil and natural gas explorer, said it will buy Union Pacific Resources Group Inc. for about $4.4 billion in stock and $2.8 billion in assumed debt, giving it cash to finance drilling projects and more oil land in North America than any rival. Anadarko will exchange 0.455 of a share, or $17.60, for each Union Pacific Resources share, 21% above Friday's close. The combined company will have $4.1 billion in debt and annual cash flow of $1.
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BUSINESS
November 12, 1997 | Bloomberg News
Pennzoil Co. shares plunged on news that Union Pacific Resources Group threatened to end its $6.4-billion takeover bid unless Pennzoil enters into talks or proves it's worth the money. Union Pacific Resources cited Pennzoil's recent disappointing drilling results off Azerbaijan and the continued refusal of Pennzoil's board to negotiate in threatening to end its $84-a-share bid Monday, a week before its tender offer is set to expire. Pennzoil responded that it had no plans to negotiate.
BUSINESS
November 12, 1997 | Bloomberg News
Pennzoil Co. shares plunged on news that Union Pacific Resources Group threatened to end its $6.4-billion takeover bid unless Pennzoil enters into talks or proves it's worth the money. Union Pacific Resources cited Pennzoil's recent disappointing drilling results off Azerbaijan and the continued refusal of Pennzoil's board to negotiate in threatening to end its $84-a-share bid Monday, a week before its tender offer is set to expire. Pennzoil responded that it had no plans to negotiate.
BUSINESS
May 27, 1994 | From Times Staff and Wire Reports
New Union Pacific President Named: Richard Davidson, chairman of the Union Pacific Railroad, was elected president of parent company Union Pacific Corp. Davidson, 52, was also named a director of the corporation, as were L. White Matthews III, 49, its executive vice president for finance, and Jack Messman, 54, chief executive of Union Pacific Resources, the oil and gas subsidiary. All three men will continue to report to Drew Lewis, chairman of Union Pacific Corp.
BUSINESS
May 4, 1987
Champlin Petroleum and Rocky Mountain Energy will be merged into a single operating company called Union Pacific Resources, according to Union Pacific Chairman and Chief Executive William A. Cook. Headquarters for the new subsidiary will be in Fort Worth. Cook said the change will enable UP to make further cost and productivity improvements in the natural resource businesses and to manage them more effectively. UP bought Champlin, the firm's oil and gas company based in Fort Worth, in 1970.
BUSINESS
June 24, 1997 | From Reuters
Union Pacific Resources Group Inc. offered on Monday to buy Pennzoil Co. in a two-step deal worth about $3.9 billion, stepping up the pressure on the independent oil producer after on-again, off-again merger talks. Including assumption of debt, the deal would be worth about $6.4 billion. News of the offer, valued at $84 per Pennzoil share, sent the stock soaring, and it was up $17.75 to close at $77.375 on the New York Stock Exchange.
CALIFORNIA | LOCAL
March 17, 1994 | GREG KRIKORIAN, TIMES STAFF WRITER
Months after the Port of Los Angeles raised serious environmental objections to a proposed waterfront development, Los Angeles City Councilman Rudy Svorinich Jr. endorsed the multimillion-dollar project whose principals include one of his campaign contributors. Svorinich's support of the project involving Union Pacific Resources Corp. came in a letter his former chief deputy claims was written by a local attorney for the company--a letter that dumbfounded officials at the Port of Los Angeles.
BUSINESS
September 11, 1997 | Reuters
A federal judge in Texas refused to halt Union Pacific Resources Group Inc.'s $6.4-billion hostile bid for rival Pennzoil Co. U.S. District Judge Terry Means said Pennzoil's motion seeking to block the bid was rendered moot by Union Pacific's release this week of confidential documents outlining strategy behind its unsolicited takeover offer. Union Pacific offered $84 a share for 50.
BUSINESS
September 9, 1997 | From Bloomberg News
Franklin Mutual Advisors Inc., the mutual fund run by activist investor Michael Price, said Monday that it has taken a 5.6% stake in Pennzoil Co. and blasted the oil producer for opposing Union Pacific Resources Group Inc.'s hostile bid of $84 a share. Houston-based Pennzoil has fought UPR's $6.4-billion tender offer--announced in June and extended until Oct. 29--on the grounds that it fails to fully value the maker of motor oil and the owner of Jiffy Lube auto service shops.
BUSINESS
June 24, 1997 | From Reuters
Union Pacific Resources Group Inc. offered on Monday to buy Pennzoil Co. in a two-step deal worth about $3.9 billion, stepping up the pressure on the independent oil producer after on-again, off-again merger talks. Including assumption of debt, the deal would be worth about $6.4 billion. News of the offer, valued at $84 per Pennzoil share, sent the stock soaring, and it was up $17.75 to close at $77.375 on the New York Stock Exchange.
BUSINESS
May 27, 1994 | From Times Staff and Wire Reports
New Union Pacific President Named: Richard Davidson, chairman of the Union Pacific Railroad, was elected president of parent company Union Pacific Corp. Davidson, 52, was also named a director of the corporation, as were L. White Matthews III, 49, its executive vice president for finance, and Jack Messman, 54, chief executive of Union Pacific Resources, the oil and gas subsidiary. All three men will continue to report to Drew Lewis, chairman of Union Pacific Corp.
CALIFORNIA | LOCAL
March 17, 1994 | GREG KRIKORIAN, TIMES STAFF WRITER
Months after the Port of Los Angeles raised serious environmental objections to a proposed waterfront development, Los Angeles City Councilman Rudy Svorinich Jr. endorsed the multimillion-dollar project whose principals include one of his campaign contributors. Svorinich's support of the project involving Union Pacific Resources Corp. came in a letter his former chief deputy claims was written by a local attorney for the company--a letter that dumbfounded officials at the Port of Los Angeles.
BUSINESS
September 11, 1997 | Reuters
A federal judge in Texas refused to halt Union Pacific Resources Group Inc.'s $6.4-billion hostile bid for rival Pennzoil Co. U.S. District Judge Terry Means said Pennzoil's motion seeking to block the bid was rendered moot by Union Pacific's release this week of confidential documents outlining strategy behind its unsolicited takeover offer. Union Pacific offered $84 a share for 50.
CALIFORNIA | LOCAL
December 5, 1987 | LARRY B. STAMMER, Times Staff Writer
Fifty-eight U.S. oil refineries, including three in the Los Angeles area, are using a potentially lethal chemical that could result in a Bhopal-like disaster threatening as many as 12 million people across the country, a Washington-based environmental group has warned. Fred Millar of the Environmental Policy Institute issued the warning three years after the Bhopal disaster in India that resulted in more than 2,800 deaths.
CALIFORNIA | LOCAL
December 5, 1987 | LARRY B. STAMMER, Times Staff Writer
Fifty-eight U.S. oil refineries, including three in the Los Angeles area, are using a potentially lethal chemical that could result in a Bhopal-like disaster threatening as many as 12 million people across the country, a Washington-based environmental group has warned. Fred Millar of the Environmental Policy Institute issued the warning three years after the Bhopal disaster in India that resulted in more than 2,800 deaths.
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