Markets & Finance

Shell Oil to Acquire Pennzoil-Quaker State


Shell Oil, a unit of Anglo-Dutch company Royal/Dutch Shell Group (RD), agrees to acquire Pennzoil-Quaker State (PZL) for $1.8 billion. Shell will pay Pennzoil shareholders $22 a share and assume $1.1 billion in debt. (3/26)

Antivirus software maker Network Associates (NET) says it will postpone its offer to acquire the 24% of McAfee.com Corp. (MCAF) that it doesn't already own. The news came after Network Associates revealed that the SEC is investigating its accounting practices. On Monday, McAfee rejected the $205 million bid, saying it was inadequate. (3/26)

Travelocity.com (TVLY) agrees to acquire Site59.com Inc., a closely-held New York travel company, for $43 million. (3/26)

Northrop Grumman (NOC) says it is prepared to sweeten its $47 per share bid for TRW Inc. (TRW) if due diligence shows a higher value is warranted. (3/26)

Liqui-Box (LIQB) says it will be acquired by DuPont Canada Inc. (T.DUP.A) for $333 million, or $67 in cash per share. (3/26)


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