Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

United Gas, Inc. Deal - Lehman Brothers Collection

United Gas, Inc.

Company DealPennzoil United, Inc., 4,056,714 shares of United common stock ($5 par value); 8,000,000 6 1/2% sinking fund debentures due December 31, 1979; $62,000,000 first mortgage bonds 6 1/2% series due December 31, 1989
Transaction TypeDebentures / First Mortgage Bonds / Common Stock
Deal DescriptionIn this deal, Pennzoil United, Inc., transferred its distribution division to United Gas, Inc., in exchange for common stock and debt securities. Pennzoil was ordered to dispose of its retail gas distribution properties in connection with a consolidation of Pennzoil Company and United Gas Corporation. The consolidation resulted in the formation of Pennzoil United, Inc.
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