Extract from the ebook “John Donovan, Shell’s Nightmare” (now available on Amazon websites globally)
(BACKGROUND INFORMATION ABOUT SHELL’S EPIC 25 YEAR FEUD WITH JOHN DONOVAN – which puts the extracts below in overall context.)
Extract from page 55
The main Smart litigation was so long drawn out and intensely reported that it was said to have scuppered a merger deal between Shell and Texaco.
Extracts from a related magazine article dated July/August 1999 (the linked file also contains a salient letter circulated by Shell to Shell retailers):
One ex-Shell employee said, “This has been an on-going saga for so long now, one could reasonably assume that the action had become a fly in the ointment for any potential deal. From the language of the statements it does seem that Shell has wanted to draw a line under this action and secure the future of Smart. This could now pave the way for a merger, and Texaco would be the likely candidate.” The recent fluctuations in the oil price and the need to rationalise and cut costs across major markets has led oil giants into increasingly ambitious partnerships.