Cutler, David M.; Summers, Lawrence H. - In: RAND Journal of Economics 19 (1988) 2, pp. 157-172
This article demonstrates that the dispute between Texaco and Pennzoil over the Getty Oil takeover reduced the combined wealth of the claimants on the two companies by over $3 billion. During the course of the litigation, Pennzoil's shareholders gained only one-sixth as much as Texaco's...