Which company bought Gulf Oil in 1985 for $13.2B, making it the largest cash offering to date?

Which company bought Gulf Oil in 1985 for $13.2B, making it the largest cash offering to date?

• A. Exxon
• B. Chevron
• C. BP
• D. Texaco

Answer: (B)

This item tests your knowledge of a landmark oil-industry merger and who carried out the largest cash deal at the time. In 1985, Chevron Corporation agreed to acquire Gulf Oil for about $13.2 billion in cash, a record-setting sum that marked the largest cash offer in corporate history up to that point. This deal dramatically expanded Chevron’s size and assets, shaping the company’s trajectory for years to come. Texaco had previously made a major purchase by acquiring Getty Oil, but Gulf Oil was acquired by Chevron, not Texaco. Exxon and BP did not acquire Gulf Oil. So, the buyer is Chevron.

This item tests your knowledge of a landmark oil-industry merger and who carried out the largest cash deal at the time. In 1985, Chevron Corporation agreed to acquire Gulf Oil for about $13.2 billion in cash, a record-setting sum that marked the largest cash offer in corporate history up to that point. This deal dramatically expanded Chevron’s size and assets, shaping the company’s trajectory for years to come. Texaco had previously made a major purchase by acquiring Getty Oil, but Gulf Oil was acquired by Chevron, not Texaco. Exxon and BP did not acquire Gulf Oil. So, the buyer is Chevron.