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Industry: Email Alert RSS FeedFTC Oks Pennzoil-Quaker State Sale To Shell
Autoparts Report, Oct 3, 2002
Pennzoil-Quaker State Co. said that the U.S. Federal Trade Commission (FTC) has cleared its acquisition by Shell Oil Co., a wholly-owned member of the Royal Dutch/Shell Group of Companies.
Shell Oil Co. and Pennzoil-Quaker State have entered into a consent order with the FTC that resolves the agency's concerns regarding the U.S. group II base oil marketplace.
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Following the closing, Pennzoil-Quaker State shareholders will receive $22 in cash per share.
COPYRIGHT 2002 Ron DeMarines
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