Chevron-Texaco merger approved

Chevron Corp. and Texaco Inc. have confirmed that the US Federal Trade Commission (FTC) has approved a consent order that will allow the two companies to complete their previously announced merger. The new company will be called ChevronTexaco Corporation. Separately, the companies have negotiated a consent decree with the attorneys general of 12 US states. In addition, the companies have obtained necessary regulatory approvals from the European Union and several countries where the two companies have major operations.

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