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Texaco Stock Up on Merger Rumors

Texaco Stock Up on Merger Rumors

Texaco stock closed up a healthy 5 1/16 Friday amid rumors the company is a takeover target in the sights of Chevron. Texaco closed at 67 ¬ on the New York Stock Exchange on volume more than twice the average. The stock's 52-week range is 44 9/16 to 65 7/8. Chevron shares closed down 2 15/16 at 94 7/8. The stock's 52-week range is 73 to 104 15/16. A Texaco spokesman could not be reached at press time, and Chevron declined to comment on the rumor.

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