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. Last Updated: 07/27/2016

Unocal, Tosco Deal

STAMFORD, Connecticut () -- Tosco Corp. has agreed to buy 76 Products Co., the West Coast refining, marketing and transportation division of Unocal Corp., for $1.9 billion to $2.1 billion, the companies said Monday.

The price includes $1.4 billion for 76 Products' fixed assets, about $400 million for inventories and up to $250 million in future profits if gasoline margins rise in the next seven years. Tosco's chairman, Thomas D. O'Malley, said the deal makes Tosco "the largest independent refiner and marketer in the United States."