Chevron closes Unocal Deal

Unocal will remain a California company:

Oil giant Chevron Corp. completed its $17.9 billion purchase of Unocal Corp. Wednesday, the finale of a tortuous four-month takeover that touched off an international bidding war and strained the United States' relations with China.

The two companies, both survivors of California's 19th century oil boom, declared the sale done just hours after a Unocal shareholders meeting in a Los Angeles-area hotel voted to support it, with more than 96 percent in favor.