Word: tassin
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Dates: during 1980-1989
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...succeeded in swallowing Mesa by bidding for its stock before finally calling it quits and selling out to Occidental Petroleum. That hectic skirmish brought the Mesa group a $31.5 million profit and taught it some lessons. "Mesa had insufficient financial muscle throughout that fight," says Assistant Vice President Sidney Tassin. "We had a good idea but not enough money to back...
Pickens had enough for the spectacular, six-month battle for Gulf Oil, which began in October 1983. He waged it with $1.3 billion in credit that he raised from bankers and partners like Independent Texas Oilmen Cyril Wagner Jr. and Jack Brown. "Our bid was extremely bold," says Tassin. "It was an incredibly intuitive reading by Boone." Pickens correctly anticipated that Gulf's top executives would underestimate him and fail to erect an effective defense. "They were not street fighters," Pickens says...