SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) June 15, 2000
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UNOCAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
1-8483 95-3825062
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(Commission File Number) (I.R.S. Employer Identification No.)
2141 Rosecrans Avenue, Suite 4000, El Segundo, California 90245
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(Address of Principal Executive Offices) (Zip Code)
(310) 726-7600
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(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events.
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Patent Case
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On June 15, 2000, the company received $91 million in payment of the 1998 patent
infringement judgment entered in its favor by the U.S. District Court for the
Central District of California. The judgment followed a trial in which a jury
found that six (now five) major California oil companies had infringed one of
the company's five reformulated gasoline patents in their production of
California motor gasoline during a five-month period in 1996 and awarded the
company $69 million in damages for that infringement. The judgment, which
includes interest and attorneys' fees, was upheld in March 2000 by a three-judge
panel of the U.S. Court of Appeals for the Federal Circuit. The full Circuit
Court declined to rehear the appeal in May. Press reports have indicated that
certain of the defendant oil companies may petition the U.S. Supreme Court to
review the decision of the Circuit Court. The company will record the payment to
earnings in the second quarter of 2000.
Acquisition of Additional Northrock Resources Ltd. Shares
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The company's Unocal Canada Management Limited subsidiary has acquired 21.1
million shares of Northrock Resources Ltd. (Northrock) common stock pursuant to
the May 19, 2000 offer made to Northrock's shareholders. This brings the
company's ownership of Northrock shares to 40.1 million, or approximately 96
percent of the outstanding Northrock shares.
The company has extended the offer to June 30, 2000, pending confirmation of
guaranteed deliveries made before the extension. When confirmations of those
deliveries are provided, the company intends to exercise its statutory right of
compulsory acquisition to acquire all of the remaining shares at the same price
as those tendered to the offer. On completion of that process, Northrock's
shares will be delisted from The Toronto Stock Exchange.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
UNOCAL CORPORATION
(Registrant)
Date: June 23, 2000 By: /s/ JOE D. CECIL
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Joe D. Cecil
Vice President and Comptroller
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