Pennzoil Co. Chairman Randal McDonald said his...
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Pennzoil Co. Chairman Randal McDonald said his company is interested in buying Tenneco’s large oil and gas unit, using money from its $3-billion legal settlement with Texaco. McDonald said his cash-rich company is looking at the Tenneco assets but has not decided whether it will make a bid. Tenneco announced recently that its Tenneco Oil division will be sold to pay off debt. Analysts said the division could fetch $5 billion to $7 billion.
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