Chevron Agrees To Buy Texaco | On This Day
October 16, 2024
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2:24Now PlayingChevron Agrees To Buy Texaco | On This Day
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as posted by the channelLet's take a quick look back at this day in history, back in the year 2000, when Chevron, the second biggest U.S. oil company, agreed to buy the third largest Texaco. The price tag, $45 billion in stock and assumed debt. And the intent largely designed to give Chevron the size to better compete with bigger rivals like ExxonMobil, like Royal Dutch Shell, like BP Amoco, each the result of acquisitions themselves amid a persistent period of low oil prices that really did force a dramatic reshaping of the industry.
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