PICKENS CLOSING IN ON OPENING A DOOR TO TAKEOVERS OUTSIDE ENERGY BUSINESS

The Journal Record | January 28, 1987| | Copyright

AMARILLO - T. Boone Pickens is not saying much about it, but when the last remnants of his Mesa Petroleum Co. are transferred in early February to its successor, Mesa Limited Partners, it will open a door for the Texas oilman to pursue corporate takeovers outside the energy business.

In Wall Street's view, Pickens proved his financial prowess in Mesa's raids against Gulf Oil Corp., Phillips Petroleum Co. and Unocal Corp. in 1984 and 1985. Over all, he has generated more than $400 million in after-tax profits for his independent oil company since 1981 with those takeover campaigns and ...

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