WB Partners gave up on its pursuit of Midcon.

Midcon, a big Chicago-based natural-gas pipeline company, agreed this week to be acquired by Occidental Petroleum of Los Angeles for about $3 billion. The takeover effort by WB Partners, a venture of Wanger & Brown of Midland, Tex., and Freeport-McMoran of New Orleans had been opposed by Midcon. The partnership said it expects to terminate its tender offer.

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