Word: conoco
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Dates: during 1980-1989
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...Carl Icahn and have invented strategies like the "Pac-man" defense, in which a raided company turns around and gobbles up its attacker. Almost every corporate battle in which they have been involved has become the stuff of high drama, from Du Pont's $7.4 billion takeover of Conoco in 1981 to Canadian Robert Campeau's current $5.5 billion bid to acquire Federated Department Stores...
...Gulf-Socal merger goes through, it will be the climax of a run of takeovers that has been reshaping the oil industry. In the past 32 months five large oil firms (Gulf, Getty Oil, Conoco, Marathon Oil and Cities Service) have been swallowed up. Last week's news set off renewed speculation about which energy companies would be acquired next. Among the most frequently mentioned targets: Superior Oil, Kerr-McGee and Amerada Hess...
...Reagan Administration has approved some of the biggest corporate mergers in history: Du Pont and Conoco, U.S. Steel and Marathon Oil and, tentatively, Texaco and Getty. Last week, in a stunning reversal, it blocked the planned marriage of LTV and Republic Steel. Proposed in September, the deal would have created the second-largest steel company in America, behind U.S. Steel. Assistant Attorney General J. Paul McGrath, named two months ago to succeed William Baxter as the Justice Department's antitrust chief, said the merger would violate the Clayton Act, which bans excessive concentration in any industry...
...seemed likely to emerge the winner by offering to buy up Getty Oil for about $9.9 billion. The deal, subject to stockholder approval and a green light from Justice Department antitrust lawyers, could be the largest takeover in U.S. history (previous record holder: Du Font's acquisition of Conoco in 1981 for $7.2 billion...
...million purchase price in part with $120 million in annual dividends from its 50.3 million shares of Du Pont stock; the distiller acquired most of its 21% stake in Du Pont, now worth $2.6 billion, as a result of the 1981 battle to take over Conoco...