Antitrust Review Period Expires For Ultramar Diamond Shamrock's Proposed Acquisition of Total Petroleum.SAN ANTONIO--(BUSINESS WIRE)--Sept. 24, 1997--Ultramar Diamond Shamrock Corp. (NYSE NYSE See: New York Stock Exchange : UDS UDS Ustedes (Spanish: Formal Plural You) UDS Uniform Data System UDS Unscheduled DNA (Deoxyribonucleic Acid) Synthesis UDS Unix Domain Socket UDS Urodynamics ) and Total Petroleum (North America) Ltd. (AMEX AMEX See: American Stock Exchange : TPN TPN, in biochemistry, abbreviation for triphosphopyridine nucleotide, a coenzyme now usually called nicotinamide adenine dinucleotide phosphate, or NADP. ) reported today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into law by President Gerald R. of 1976, as previously extended pursuant to an agreement with the U.S. Federal Trade Commission, has expired. The parties expect to close the transaction Sept. 25, 1997, or as soon thereafter as possible. In the proposed transaction, each outstanding Total Petroleum share would be converted into 0.322 of a share of Ultramar Diamond Shamrock common stock. Ultramar Diamond Shamrock Corporation with approximately $10.2 billion in annual revenues is one of the largest independent refining and marketing companies in North America. The corporation owns four modern refineries in the United States and Canada with a total throughput capacity of 500,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. and has approximately 4,300 branded retail gasoline outlets, the majority of which are branded Diamond Shamrock, Ultramar, or Beacon. The corporation also has growing petrochemicals, home heating oil, and convenience store merchandising businesses. Total Petroleum is a refiner and marketer of petroleum products with refineries in Colorado, Oklahoma and Michigan, and marketing activities in the central United States The Central United States is sometimes conceived as between the Eastern United States and Western United States as part of a three-region model, roughly coincident with the Midwestern United States plus the western and central portions of the Southern United States; the term is . Headquartered in Denver, the company employs approximately 6,400 people. Total Petroleum shares are listed on the American, Toronto, Montreal, and Pacific stock exchanges under the symbol TPN. Approximately 55.5 percent of its common shares are owned by Total S.A., a leading international oil and gas company headquartered in France, with shares listed on the Paris, London, and New York stock exchanges. CONTACT: Total Petroleum (North America) Ltd. Doug Kerner, 303/291-2003 or Ultramar Diamond Shamrock, San Antonio Anne Cannon, 210/641-8803 or Mary Hartman, 210/641-8840 |
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