OIL & GAS: Houston to Atlantic

OIL & GAS

In the past two years, one of the fastest performers on the New York Stock Exchange has been middle-sized Houston Oil, which has climbed from 65 to 155. The big reason for the climb was a persistent rumor that the company would be bought up at a fat price by one of the oil giants. Last week rumor became fact. Houston Oil announced that, subject to stockholder approval, it was selling all its holdings for $224,654,265, or $165 per share for its 1,361,541 outstanding shares. Atlantic Refining Co., 13th largest U.S....

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