Chevron, Unocal Reach FTC Deal

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Chevron Corp. and Unocal Corp. said on Wednesday they had reached a proposed settlement of antitrust charges over gasoline patents with the Federal Trade Commission.


The settlement, which must still be approved by the FTC’s commissioners, is a key step in achieving regulatory approval of Chevron’s $16 billion deal to acquire El Segundo-based Unocal, which was inked in April.


No details of the proposed settlement were made available.


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