November 12, 2005 |
Chevron Corp. said Executive Vice President Charles R. Williamson, the former chairman and chief executive of recently acquired Unocal Corp., was retiring, effective Dec. 1. Williamson joined Union Oil Co. of California as a research scientist in 1977. He worked for the company in various capacities, climbing to the chief executive post in 2001. Williamson had said before that he would remain with Chevron for a few months to assist with the transition.
August 20, 2005 |
Even the tchotchkes of Unocal are being sold off. The storied oil company was sold last week to Chevron Corp. in an $18-billion deal after rival bidder CNOOC Ltd. of China backed out. But in July, when it was apparent that El Segundo-based Unocal Corp. would disappear, employees started collecting memorabilia, keepsakes and artwork that had been stuffed in closets or hung on the walls of offices soon to be vacated.
August 11, 2005 |
One of California's oldest and most storied oil companies officially disappeared Wednesday as Unocal Corp. shareholders approved a buyout offer from Chevron Corp. The $18-billion deal became final after owners of more than 77% of Unocal's shares voted for Chevron's offer, which seemed destined to prevail after rival bidder CNOOC Ltd. of China backed out last week amid intense congressional resistance. About 2.
August 10, 2005 |
After months of haggling and international intrigue, Unocal Corp. shareholders will finally meet today to approve a takeover by Chevron Corp. The vote will mark the end of Unocal as an independent company and a rebuffing of Chinese attempts to secure much-needed energy resources by buying an American oil company. Few doubt Chevron will win approval after rival Chinese bidder CNOOC Ltd. pulled out of the takeover battle citing intense political opposition.
August 4, 2005 |
Chevron Corp.'s bid to buy Unocal Corp. won endorsements from two more shareholder advisory companies Wednesday, a day after China's CNOOC Ltd. withdrew its higher offer for the El Segundo oil company. The reports from Glass Lewis & Co. and Proxy Governance Inc., which come a week before Unocal shareholders vote on the Chevron deal, conclude that Chevron was offering a fair price for Unocal. On Monday, the deal won the backing of Institutional Shareholder Services.
August 3, 2005 |
CNOOC Ltd.'s withdrawal Tuesday from the bidding for Unocal Corp. lifts the pall of uncertainty that had hung over the California oil company's worldwide workforce for months, leaving workers distracted, anxious and ripe for poaching by headhunters and rivals.