T. Boone Pickens, Jr.

T. Boone Pickens, Jr. (born May 22, 1928), an American businessman, head of Mesa Petroleum and well-known takeover artist during the 1980s.

Related Topics:
May 22 - 1928 - American - Mesa Petroleum - Takeover - 1980s

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Pickens was born in Holdenville, Oklahoma to a Texas oil and mineral rights leasor. Pickens attended Texas A&M and Oklahoma A&M, joining Sigma Alpha Epsilon fraternity. After a period as a wildcatter he started working for Phillips Petroleum. Shortly therafter he struck out on his own founding the company that became Mesa in 1956.

Related Topics:
Holdenville, Oklahoma - Texas A&M - Oklahoma A&M - Sigma Alpha Epsilon - Wildcat - Phillips Petroleum - 1956

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By 1981, Mesa had grown into one of the largest independent oil companies in the world when Pickens decided that acquiring other oil and gas companies was more profitable than oil exploration and production. He spent much of the decade targeting undervalued companies, making solicited and unsolicited buyout bids and other merger and acquisition activity. This made Pickens a celebrity during the 'deal-making' 80s. His most publicized deals included an attempted buyout of Cities Services, an attempted takeover of Diamond Shamrock, as well as a proxy fight for Gulf Oil.

Related Topics:
1981 - Merger and acquisition - Cities Services - Diamond Shamrock - Gulf Oil

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These as well as other deals placed Pickens at the center of controversy during the 80s. He was typically characterised as a corporate raider and greenmailer, as many of his deals were not completed though Pickens received substantial profits through the eventual sale of his stock in the company being taken over.

Related Topics:
Corporate raider - Greenmailer - Stock

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Recently, Pickens has begun speaking out on the issue of Peak Oil, claiming that world oil production is about to enter a period of irrevocable decline. He has called for the construction of more nuclear power plants, the use of natural gas to power the country's transportation systems, and the promotion of alternative energy.

Related Topics:
Peak Oil - Nuclear power plants - Natural gas - Alternative energy

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Pickens lives with his wife in Dallas, Texas.

Related Topics:
Dallas - Texas

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