UNC Resources reached agreement with Chevron.
UNC Resources of Annapolis, Md., said it will repurchase 8 million of its common shares owned by Chevron since a 1984 stock purchase agreement between the two firms. Two million shares will be bought for $25 million and the remaining 6 million will be bought over three years at market prices. UNC shares Thursday closed off 37.5 cents at $12.50.
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