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Strategies & Market Trends : Speculating in Takeover Targets
CTG 7.590+0.1%2:29 PM EST

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From: richardred10/19/2011 9:55:56 AM
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Chevron considering acquisitions, analyst says



NEW YORK (MarketWatch) -- Chevron Corp. /quotes/zigman/289939/quotes/nls/cvx CVX -0.45% may consider acquisitions of comparable size to its $4.3 billion purchase of Atlas earlier this year as it mulls options for its cash holdings, analyst Pavel Molchanov of Raymond James said in a note to clients on Wednesday. Meeting with investors and other Wall Streeters at a lunch on Tuesday, Chevron CEO John Watson and other company officials said the company favors "small, more bolt-on deals" up to and including the size of the Atlas acquisition, Molchanov said. "Management looks for resource accumulation acquisitions like Atlas that will add long-term value, noting that paying for current production is often expensive," he said. Chevron is also considering dividend increases and stock buybacks in order to deploy its $13 billion in cash, but signaled it's not planning a large, short-term buyback.
marketwatch.com
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