Net income at U.S. companies fell 67% in second quarter

Article Abstract:

Companies in the United States posted a decline of 67% in their net incomes for the 2001 second-quarter. Quarterly net income for 1,138 companies came out to $32.4 billion (37.02 billion euros).

Sales & consumption, Corporations, Finance, Corporate finance

Chevron considers acquiring Texaco in $42 billion deal to create oil giant

Article Abstract:

Chevron Corp. is engaged in preliminary negotiations on the possible acquisition of Texaco Inc. Chevron is proposing to purchase Texaco for approximately $80 per share. This comes out to approximately $42 billion. Chevron and Texaco are the third- and fourth-largest energy firms in the US. The proposed deal would lead to nearly a complete overhaul of the oil industry in the US. However, both firms are not close to an agreement and may not even conclude one.

Comment:

Chevron engaged in preliminary negotiations on possible acquisition of Texaco

Strategy & planning, Petroleum, Petroleum and Coal Products Manufacturing, Planning, Petroleum industry, Texaco Inc., Chevron Corp.

KN Energy finds merger partner

Article Abstract:

KN Energy has reached an agreement to merge with Kinder Morgan Inc. in a deal worth $783 million (769 million euros). KN Energy is an owner of natural gas pipelines based in Lakewood, California. According to the terms of the deal, KN Energy will issue 41.5 million shares in order to purchase Kinder's stock. KN Energy will also assume debts of $140 million under the deal.

Comment:

KN Energy to merge with Kinder Morgan in deal worth $783 million (769 million euros)

Asset sales & divestitures, Acquisitions & mergers, Natural Gas Distribution, Gas Transmission, Pipelines ex Gas, Pipeline Transportation, Pipelines, Gas transmission industry, Natural gas transmission, Kinder Morgan Inc., KN Energy Inc.