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.