■ . ■
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'ennzoil, Getty involved
n stock merger dispute
United Press International
—
WILMINGTON, Del. —
^ rerinzoil Co. sought an injunc-
tfiti Hpn Wednesday to modify the
Wf rolltibillion Texaco-Getty mer-
r feer until a trial can be held to
termine whether the Getty Oil
committed itself to a deal
With Pennzoil.
John Jeffers, a lawyer for
I Houston-based Pennzoil, asked
p Blaware Chancery Court
Chancellor Grover Brown to
' Order Texaco Inc. to keep stock
ncl other assets acquired in the
JO.l billion Getty deal separate
rom current holdings.
“Out deal was for three-
enths of (Getty). That can be
intained pending a full trial
issuing a hold-separate order
the Getty Oil Co. If (Texaco)
ermitted to acquire the stock,
cost tor & hev will do so with a court order
'illionand;
letion da;
/
able ac«8
t explain
that we may be entitled to three-
sevenths, 43 percent, of Getty,”
Jeffers said.
Jeffers said officials of the
Getty Oil Co., the Sarah Getty
Trust and the J. Paul Getty
Museum signed an agreement
on January 2 that obliged Getty
to sell 43 percent of its common
stock to Pennzoil for $112.50 a
share.
Three days later, Texaco, the
third largest U.S. oil company
headquartered in White Plains,
N.Y., lured Getty from the
Pennzoil deal and on January 8
signed a formal agreement to
buy 56.6 percent of Getty’s stock
for $9.89 billion.
Texaco pumped the total up
to $10.1 billion, $128 per share
for 79.1 million shares, to satisfy
appease three Getty grand
daughters and other heirs who
opposed the takeover.
Getty, a Delaware corpora
tion headquartered in Los
Angeles, has a motion pending
to block Pennzoil from interfer
ing with the merger that the
Pennzoil deal was never closed
the Pennzoil deal and enforce
ment of the “alleged agreement”
would violate Delaware general
corporation law.
Lawyers for Getty, the trust,
the museum and Texaco were
expected to make their state
ments in Pennzoil’s request for
an injunction late Wednesday. It
was expected that the hearings
will last until Thursday after
noon.
Jeffers said an informal
agreement signed by Getty
chairman Harold Williams and
initialled by Gordon Getty, the
trustee of the Sarah Getty Trust,
bound Getty to the Pennzoil
deal.
ecovery search aided
tation wii!
emerge:
'nd obsitt 1
United Press International
ould
r 25 acre
!) beds,
more bed
al.H
I LANGTRY — Water
jumped on a loose, rocky slope
lad a cementing effect, making
ic search for the body of land-
iide victim easier, safer and fas-
l/a national park official said
Wednesday.
d thatalM^ 011 Goldman, assistant su-
!, pei mtendent at the Amistad Re-
ate neKi^f a ti° na l ^ rea > sa 'd rescuers
Laughlin Air Force Base
the exacjfod P 31 '^ rangers are optimistic
here williM e y can recover the body of
increa:PK ar Joe Dorroh.
■ Dorroh, 45, a Kelly Air Force
aff menzfcase civilian employee, was
r jobsaijattempting to climb to a 100-
aid. year-old railroad bed in the re
mote national park Saturday
jidien he triggered the landslide
pn the loose, rocky slope.
Goldman said rescuers dug
for two days before tracking
dogs from the Midland Police
Department located the body in
a different part of the hill
High -pressure water hoses
failed to wash away an area be
neath the site where Dorroh’s
body is believed buried, and dig
ging efforts had been hampered
by loose rock falling into the
hole, he said.
However, Goldman said res
cuers accidentally discovered
the water had a cementing effect
on the loose debris, and made
the digging safer, easier and
faster.
“We’re sure we are some
where close to him. We’re work
ing on the right part of the hill,”
Goldman said. “We had been
digging in the wrong place for
two days.
“We turned the water on the
digging site just to get the dust
out of their faces and it had a
cementing effect on the rocks.
The rocks started sticking
together, holding a better slope.
We can dig deeper, faster and
we have two men on the slope
for the first time,” he said.
Goldman said rescuers were
optimistic the body could be rec
overed.'
“We are holding our breath.
We’re just hoping to find Joe to
day and call this thing off,” he
said.
The accident scene is located
about three miles north of the
confluence of the Rio Grande
and Pecos river in a remote area
of the park about 50 miles north
west of Del Rio.
Capital murder indictments
returned in Sherman killings
1 United Press International
I SHERMAN — An Arlington
wery Rjnan accused in the bloody
system y a yj n g S of four men found shot
:il and^'ftp death in a hangar last October
attend; y as i nc ija e d Wednesday on four
Rf ^ founts of capital murder.
jm ' nUnl ® ^ Grayson County grand
waste,al*p ;Ur y issued the indictments
iat generi|jg a j n s t Lester Leroy Bower Jr.,
:inerator|.35 i i a t e Wednesday afternoon,
d heat f jjust hours after the case was re
ferred to the panel,
kthrouj™ Bower’s attorney, Jerry
solid wait*
iell
r. “If we
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ity.and
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Buckner said he expected an in
dictment.
■'The ne*T move will*be a
court appearance for arraign
ment,” Buckner said. “My client
will plead not guilty.”
Bower was being held in lieu
of $400,000 bond in the
slayings.
He is charged with murder
ing Grayson County deputy
Phillip Good, 29; former Sher
man policeman Ronald Mayes,
37; Jerry Mac Brown, 51, a self-
employed house remodeler
from Sherman, and Bob Tate,
who owned the rahch were the
bodies were found last Oct. 8.
Three of the victims were hid
den under pieces of carpeting
inside a slu;d on Tate’s ranch
that servecT as a hangar. The
fourth was about 35 feet away
near the door. All of the victims
were ultralight enthusiasts.
Authorities said an ultralight
aircraft was missing from Tate’s
ranch following the slayings.
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R.l.
Thursday, January 26, 1984/The Battalion/Page 7
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