OIL: Merger for Getty?

OIL Merger for Getty?

Wall Street buzzed with rumors last week that Billionaire Jean Paul Getty, 65, the richest American (TIME, March 4), would soon unite the three major oil companies that he controls. Together the $163.4 million Getty Oil Co., the $679.6 million Tidewater Oil Co., and the $339.1 million Skelly Oil Co. would rank as ninth richest among U.S. oil firms. On the rumors, Getty Oil stock (81% owned by J. Paul Getty himself) jumped 2⅝ points to 26⅛ as 71,300 shares were traded in only two days. But last week in Paris, Getty waved off the rumors: "Nonsense'...

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