The Chevron-Huntington Beach Co. merger is set.
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The giant oil concern said a sweetened $80-million offer for the remaining one-third of Huntington Beach Co. that it does not already own has tentatively been accepted, and a merger is scheduled for early next year. The deal, a tax-free exchange of stock, calls for Chevron to give Huntington Beach Co. shareholders $780 worth of Chevron stock for each share of Huntington Beach Co., an oil and land development company.
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