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Nycal tries to swallow firm 8 times its size: oil and gas concern sets sights on N.Y. Stock Exchange firm. (Gulf Resources Corp.)
Nycal tries to swallow firm 8 times its size
Oil and gas concern sets sights on N.Y. Stock Exchange firm
Nycal Corp. of Washington is trying to step into the big leagues by paying $33.5 million for a 35 percent stake in a Boston-based coal company that trades on the New York Stock Exchange.
Nycal is buying that stake from Inoco plc of England for $16 million in cash and the remainder in Nycal stock. Nycal has liquid assets of $6 million, and company officials could not be reached for comment on how they plan to finance the deal.
Graham Lacey, Nycal's chairman, said in a press release he "looked forward to redirecting Gulf's $370 million of …
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- Nycal Corp. (buys Gulf Resources and Chemical Corp. stock) (Brief Article)
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Magazine article from: The Oil and Gas Journal
August 5, 1991
700+ words
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- Nycal's British owner opens up, reveals his plans for future. (Graham Lacey)
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Magazine article from: Washington Business Journal
Abrahms, Doug
November 4, 1991
700+ words
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- Nycal adds Georgia firm to oil holdings. (Nycal Corp.; Sunlite Inc.)
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Magazine article from: Washington Business Journal
Abrahms, Doug
October 7, 1991
700+ words
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- Nycal sells stake in Dallas oil company. (Woodbine Petroleum Inc. sold to...
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Magazine article from: Washington Business Journal
July 29, 1991
700+ words
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- Massachusetts court rules firm owes no duty to investors. (Nycal Corp. v....
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Magazine article from: Journal of Accountancy
Baliga, Wayne
December 1, 1996
700+ words
