On April 8, 1985, a Texas-based energy company called Mesa Petroleum launched a hostile takeover bid for the Union Oil Company of California, or Unocal.
Mesa had been founded in 1956 by legendary oilman T. Boone Pickens; and by the 1980s, Pickens had become a well-known corporate raider in the oil and gas industry, i.e. someone who acquires struggling companies at a discount, and then sells off their assets for a profit.
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