-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QfjRGJ6shcBhiDethaKDH1JbySw7vOO9kWUL6ErpyVcVXF49x5nst0Aaa5hMt9tR WIxfOQeVEetvRkU6tLw4cA== 0000950129-97-003703.txt : 19970912 0000950129-97-003703.hdr.sgml : 19970912 ACCESSION NUMBER: 0000950129-97-003703 CONFORMED SUBMISSION TYPE: SC 14D9/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19970910 SROS: NYSE SROS: PSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENNZOIL CO /DE/ CENTRAL INDEX KEY: 0000077320 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 741597290 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D9/A SEC ACT: SEC FILE NUMBER: 005-06319 FILM NUMBER: 97678597 BUSINESS ADDRESS: STREET 1: PENNZOIL PL STREET 2: P O BOX 2967 CITY: HOUSTON STATE: TX ZIP: 77252-2967 BUSINESS PHONE: 7135464000 MAIL ADDRESS: STREET 1: PENNZOIL PLACE STREET 2: P O BOX 2967 CITY: HOUSTON STATE: TX ZIP: 77252-2967 FORMER COMPANY: FORMER CONFORMED NAME: PENNZOIL UNITED INC DATE OF NAME CHANGE: 19680429 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PENNZOIL CO /DE/ CENTRAL INDEX KEY: 0000077320 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 741597290 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D9/A BUSINESS ADDRESS: STREET 1: PENNZOIL PL STREET 2: P O BOX 2967 CITY: HOUSTON STATE: TX ZIP: 77252-2967 BUSINESS PHONE: 7135464000 MAIL ADDRESS: STREET 1: PENNZOIL PLACE STREET 2: P O BOX 2967 CITY: HOUSTON STATE: TX ZIP: 77252-2967 FORMER COMPANY: FORMER CONFORMED NAME: PENNZOIL UNITED INC DATE OF NAME CHANGE: 19680429 SC 14D9/A 1 PENNZOIL COMPANY (AMENDMENT #19) 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14D-9 SOLICITATION/RECOMMENDATION STATEMENT (AMENDMENT NO. 19) Pursuant to Section 14(d)(4) of the Securities Exchange Act of 1934 PENNZOIL COMPANY (Name of Subject Company) PENNZOIL COMPANY (Name of Person(s) Filing Statement) COMMON STOCK, PAR VALUE $0.83 1/3 PER SHARE (including the associated Preferred Stock Purchase Rights) (Title of Class of Securities) 709903 10 8 (CUSIP Number of Class of Securities) LINDA F. CONDIT CORPORATE SECRETARY PENNZOIL COMPANY PENNZOIL PLACE, P.O. BOX 2967 HOUSTON, TEXAS 77252-2967 (713) 546-8910 (Name, address and telephone number of person authorized to receive notice and communications on behalf of the person(s) filing statement) Copies To: Moulton Goodrum, Jr. Charles F. Richards, Jr. Baker & Botts, L.L.P. Richards, Layton & Finger One Shell Plaza One Rodney Square Houston, Texas 77002-4995 P.O. Box 551 (713) 229-1234 Wilmington, Delaware 19899-0551 (302) 658-6541
2 This Amendment No. 19 (this "Amendment") amends and supplements the Solicitation/Recommendation Statement on Schedule 14D-9, as amended, originally filed on July 1, 1997 by Pennzoil Company, a Delaware corporation (the "Company"), relating to a tender offer commenced by Resources Newco, Inc., a wholly owned subsidiary of Union Pacific Resources Group Inc., on June 23, 1997. All capitalized terms used in this Amendment without definition have the meanings attributed to them in the Schedule 14D-9. The items of the Schedule 14D-9 set forth below are hereby amended by adding the following: ITEM 9. MATERIAL TO BE FILED AS EXHIBITS
EXHIBIT NO. DESCRIPTION ------- ----------- 59 Press Release of the Company dated September 10, 1997.
2 3 After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. PENNZOIL COMPANY Dated: September 10, 1997 By: /s/ James L. Pate James L. Pate Chairman of the Board, President and Chief Executive Officer 3 4 EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION - ------- ----------- 59 Press Release of the Company dated September 10, 1997.
EX-99.59 2 PRESS RELEASE OF THE COMPANY DATED - 9/10/97 1 EXHIBIT 59 [PENNZOIL LETTERHEAD] FOR IMMEDIATE RELEASE Contact: Robert Harper 713-546-8536 PENNZOIL OBTAINS UPR'S INTERNAL EVALUATIONS AND TAKEOVER PLAN HOUSTON (Sept. 10, 1997) -- Pennzoil Company (NYSE:PZL) announced today that it had finally succeeded in forcing Union Pacific Resources Group (NYSE:UPR) to disclose the entire contents of six key internal documents previously withheld from the public. After more than two months of legal maneuvering, UPR was forced to agree to permit the documents to be placed in the public domain. On September 8th, UPR, faced with the imminent threat of a preliminary injunction being granted against it at today's hearing in Fort Worth, had released isolated excerpts from the documents in Amendment 20 of its 14D-1. At the hearing today in U.S. District Court before Judge Terry R. Means, UPR agreed to release the full contents of the documents when faced with the alternative of the court ordering them to do so. As a consequence of their disclosure, Judge Means declared Pennzoil's application for preliminary injunction to be moot. The documents reveal in startling detail UPR's plan to "blur the market's perception" by withholding internal valuations of Pennzoil substantially higher than its tender offer value and by concealing UPR's own desperate need for an acquisition as revealed to the IRS, in the light of projected sharp declines in UPR's production, especially from the Austin Chalk formation. UPR told the IRS in June of 1996 that it needed to acquire 750 million barrels of oil equivalent in 1997 in order to offset projected declines of 34% in its Austin Chalk reserves and to achieve its promised 10% production increases per year.
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