The Chevron-Huntington Beach Co. merger is set.
The giant oil concern said a sweetened $80-million offer for the remaining one-third of Huntington Beach Co. that it does not already own has tentatively been accepted, and a merger is scheduled for early next year. The deal, a tax-free exchange of stock, calls for Chevron to give Huntington Beach Co. shareholders $780 worth of Chevron stock for each share of Huntington Beach Co., an oil and land development company.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
