The Taking of Getty Oil: Pennzoil, Texaco, and the Takeover Battle That Made History - Softcover

Coll, Steve

Softcover

ISBN 10: 1504049535 ISBN 13: 9781504049535

Publisher: Open Road Media, 2017

Synopsis

A larger-than-life account of family, greed, and a courtroom showdown between Big Oil rivals from the New York Times–bestselling author of Private Empire.

Pulitzer Prize–winning author Steve Coll is renowned for “his ability to take complicated, significant business stories and turn them into quick-reading engaging narratives” (Chicago Tribune). Coll is at the height of his talents in this “riveting” tale of one of the most spectacular—and catastrophic—corporate takeovers of all time (Newsday).
 
As the head of a sprawling oil empire, J. Paul Getty was once the world’s richest man. But by 1984, eight years after his death, Getty’s legacy was in tatters: His children were locked in a bitter feud over the family trust and the company he founded was riven by boardroom turmoil. Then Pennzoil made an agreement with Getty’s son, Gordon, to purchase Getty Oil. It was a done deal—until Texaco swooped in to claim the $10 billion prize.
 
What followed was an epic legal battle that pit “good ole boy” J. Hugh Liedtke of Pennzoil against the Wall Street brokers behind Texaco’s offer. The scandalous details of the case would shock the business world and change the landscape of the oil industry forever.
 
With a large cast of colorful characters and the dramatic pacing of a novel, The Taking of Getty Oil is a “suspenseful” and “always intriguing” chronicle of one of the most fascinating chapters in American corporate history (Publishers Weekly).
 

About this title

About the Author:

Steve Coll is a staff writer at the New Yorker, the dean of the Columbia Journalism School, and the bestselling author of seven books. Previously he served as president of the New America Foundation and worked for two decades at the Washington Post, where he won the Pulitzer Prize for Explanatory Journalism for a four-part series on the Securities and Exchange Commission during Ronald Reagan’s presidency. The award-winning series became the basis for Eagle on the Street (1991), coauthored with David A. Vise. Coll’s other books include New York Times Notable Book The Deal of the Century (1998); Ghost Wars (2004), winner of the Pulitzer Prize for General Nonfiction; The Bin Ladens (2009), winner of the PEN/John Kenneth Galbraith Award for Nonfiction; and Private Empire (2012), winner of the Financial Times and McKinsey Business Book of the Year Award.
 

From Publishers Weekly:

The financial disarray in which J. Paul Getty's death in 1976 left his family and the Getty Oil Company has led to sibling contention, corporate intrigue, courtroom high drama and, most recently, to an unprecedented $11-billion damage judgment over the Texaco-Pennzoil acquisition. Using "reconstructed dialogue" and suspenseful narrative, Washington Post financial writer Coll spins the story of family trustee Gordon Getty who sows confusion; a beset Getty Oil management; Texas oil-patch "good ole boy" Hugh Liedtke of Pennzoil fulfilling his dream to buyout Getty, only to be outmaneuvered by Texaco's Wall Street merger-brokersbut eventually winning in a down-home jury trial the biggest civil monetary damage award ever. Coll's behind-the-scenes account of investment banking and legal high jinks is at times startling and always intriguing. Major ad/promo; first serial to the Los Angeles Times Magazine.
Copyright 1987 Reed Business Information, Inc.

About this edition

• Publisher: Open Road Media
• Publication date: 2017
• ISBN 10: 1504049535
• ISBN 13: 9781504049535
• Binding: Paperback
• Number of pages: 550