Mergers, Acquisitions and Breakups: A History of Chevron

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Ever wonder how Chevron  (CVX) - Get Report came to be an American oil giant? 

Chevron, based in San Ramon, runs California's two largest oil refineries, in El Segundo and Richmond. It's the state's top oil producer and one of the largest producers of natural gas.

Here's a look at some of its key moments in its history:

Chevron traces its history to 1879 when Pacific Coast Oil Co. was founded. 

In 1906, a consolidation between Pacific Coast Oil and Iowa Standard created a new entity, Standard Oil Co.

Then in 1911, Standard Oil was broken into several pieces under the Sherman Antitrust Act. One of those pieces, Standard Oil Co. of California, or SoCal, went on to become Chevron.

Today, Chevron is the owner of the Standard Oil trademark in 16 states in the western and southeastern  U.S.

In 2001, the company merged with Texaco, changing its name to Chevron Texaco Corp., but by the time it acquired Unocal Corp. in 2005, it had dropped the Texaco name.

In April 2019, Chevron announced its intention to acquire Anadarko  (APC) - Get Report for $33 billion.

Soon after the oil giant reached its cash-and-stock deal for Anadarko, reports emerged indicating Occidental (OXY) - Get Report had been planning its own offer.

Chevron could be forced to up its offer to billions more should it decide to sweeten the deal.

Chevron is the world's third-largest publicly traded energy company in market capitalization.

Anadarko is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.

Related. Who Might the Oil Majors Acquire Next After Chevron's Anadarko Deal?

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