UtiliCorp proposes doubling its stake in power New Zealand
Article Abstract:
UtiliCorp United (Kansas City, MO) has offered $206 million to acquire a controlling 78.6% interest in Power New Zealand Ltd, up from the 37.5% it has now. The Power New Zealand Shareholder Society and the public would retain the remainder of the company. The shares would be purchased from the Aukland-based Mercury Energy Ltd and from the Hamilton-based WEL Energy Group Ltd. UtiliCorp's New Zealand affiliate would sell its stake in WEL Energy to the WEL Energy Trust as part of the deal. UtiliCorp would gain a an Autralasian foothold with Power New Zealand's 226,000 customers in the Auckland area.
Comment:
Bids $206 million for a controlling stake in Power New Zealand Ltd.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Motor-oil merger could be poised on slippery slope
Article Abstract:
People who are observing or involved in the Pennzoil Co.-Quaker State Corp. merger have raised concerns about the deal. The concern is that Quaker State will not improve much under a Pennzoil management team. Quaker State has struggled to become a pure consumer firm. Pennzoil itself has had difficulties in the car-care product market. From the time of the merger agreement in April 1998 to July 1998, Quaker State's shares have fallen 28%.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Pennzoil set to pay $6.75 million to settle racial-bias lawsuit
Article Abstract:
Pennzoil Co. settled a class-action racial discrimination suit filed in federal court in Houston in 1996. The settlement of $6.75 million has been accepted by both sides. The company plans to improve all its equal employment practices and policies, though it claims the settlement is not an admission of wrongdoing.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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