This really was at times a good book and other times boring and slow. I really wanted to know what happened with Getty Oil and how it got taken over and once you get into it, it is really a lot of court cases. Did find what I was looking for though

An interesting, well-written and accessible account of the ultimate fate of Getty Oil. An excellent example of business and resource journalism. Recommended.

Readable, well-done, comprehensive and understandable explanation of a very convoluted situation and the long court cases that grew out of it.

A ‘big oil’ battle of the past that could have equally appeared as a television soap opera is brought to light in this concise book, which considers the battle for Getty Oil that took place in the mid-1980s.

It is a relatively light read that cuts to the chase, providing an informative insight into a massive court battle, opening family arguments, corporate history and much more in the process. The author writes in an accessible style, giving insider perspectives and focussed analysis that is buoyed by suspense and an interesting back story. This is far from a dry read about a corporate dispute.

On one hand, it felt as if it was a big of a slow burner, but once the fuse was lit there was no stopping it. No prior knowledge was assumed and the author has done a good job in drilling down to the core facts and activities, leaving any dry or overly technical observations to other books to consider. Thus, it can be a very good travel companion, something not too light, not too heavy but ultra-informative and a damn good story to boot.

Why not make this part of your next holiday reading, if you have no immediate need for this intelligence?

The Taking of Getty Oil, written by Steve Coll and published by Open Road Integrated Media. ISBN 9781504045049. YYYY

Perhaps readers who are interest in the minute details of mergers/takeovers might like this book. For me the book overwhelmed me with details without explaining the significance of this takeover.

The book started off with some promise. It took me back to the nineteen eighties, where big money could be made by restructuring companies and taking tem over. TV shows like Dallas made the oil industry seem glamorous. The initial conflict between Gordon Getty, the bumbling son, of the famous Getty and the Getty Board of Directors had a potential to be interesting.
However, the author did not persuade me that the takeover of Getty oil was a subject worthy of four hundred pages of reading. As the author himself pointed out, that to Americans all oil companies seem the same. I never understood why it was so important, except to the parties who were directly affected, of who controlled Getty oil. Today’s companies go out of business, merge and are taken over all the time. The book did not make me care about what happens to Getty oil.
Part of the problem is that the book does not provide a history of Getty oil. It is hard to care about the change of control of a company that the reader does not know much about.

The book claims that this takeover battle made history but I did a pretty thorough reading of the first two hundred pages and the author did not provide me with the information of why this takeover was historically significant. I skimmed over the rest of the book because I found it boring. Usually, I try to give books that I get for review a thorough reading.

I received a free copy of this book in exchange for an honest review.

I would not normally read a book that is about real family sagas that are involved in large corporations, especially oil in America but I found this book written so well to engage and hold one's attention whilst they learn about the legal battle between J. Hugh Liedtke of Pennzoil and the Wall Street brokers behind Texaco’s offer. The case changed the landscape of the oil industry.

The Taking of Getty Oil is as exciting as The Barbarians at the Gate. It starts with the Founder, J. Paul Getty a brilliant investor who aggregates precious and profitable oil assets, but this legacy - complicated by personal life, multiple marriages and a museum trust - is passed on to his son, Gordon, whose interests lie outside of business - music. Immediately, Gordon unwittingly starts a process by the end of which he loses control of Getty Oil, and two suitors - Pennzoil and Texaco - outbid each other nearly bankrupting themselves, and in the process, much vaunted CEOs and lawyers reputation and careers get sullied. The interpersonal dynamics to control Getty Oil between Gordon (controlling 40% of Getty Oil at as the elder of the Getty Family), William (heading the Museum Trust, controlling 14% of Getty Oil), and Sid Peterson (CEO of Getty Oil) each having their own agenda, results in blood in water, and two sharks - Liedtke of Pennzoil and McKinley of Texaco - circling towards Getty Oil. Gordon advised by fee fueled advisers waffles between Pennzoil and Texaco offer - and finally, closes the deal Texaco. When McKinley thinks he has own, Liedtke unleashes Jamail, the king of tort, on Texaco, and gets a $10 billion verdict. Bankrupted Texaco, finally settles. Each one of the victors (at least at some point of the transaction), either it is Gordon, Peterson, Liedtke, or Mckinley finally loses some ground - they do not achieve their dream fo acquiring "full" control of Getty Oil, but instead relinquishes that initial power base.

The narration, pacing, prose, characterizations by Steve Coll is extraordinary. The fast paced nature of the book makes it a page turner. But for a student of business, each of these follies also has instructive value. A minor mistake of lawyers of Skadden & Arps not filing a reply results in the trail, pros & cons of fast-paced negotiations on complex M&A, the question of going into a trial, etc. needs to be reflected and in hubris filled story lies lessons for the future.

This is a fascinating, in-depth look at the takeover of Getty Oil, and how Gordon Getty brought about the end of the 100 year old Getty Oil Company. Based on documents and interviews, it gives a full account of all the behind-the-scenes scrambling by the management as they are trying to figure out what Gordon Getty really wants and what they have to do to save the company, the oil companies who try to purchase Getty Oil when they realize it's up for grabs, the merger and acquisition people for various investment firms, and the lawyers for all the involved parties. The financial dealings and strategies for this high pressure deal, catastrophic for Getty Oil, are very well explained, and the character studies are excellent. Many thanks to Netgalley for the ARC. Highly recommend - quite the eye opener!

Getty Oil was a large oil company in the early 1980’s. It was never one of the “Seven Sisters”, the biggest oil companies in the world, but it was worth billions and was controlled by a family trust and the Getty Museum. For a number of reasons, the company became a takeover target, and was eventually acquired by Texaco, another large oil company. The whole takeover process, including the eventual lawsuits, were full of high-priced lawyers and bankers, intrigue, incompetence, rivalries and consequences. At the end, the unlikeliest of characters walks away with the biggest trophy.

=== The Good Stuff ===

* This is a complex tale of high finance, legal maneuvers, contracts, trust funds and corporate intrigue. Steve Coll does a masterful job of explaining the story in simple terms and keeping the story moving. There are a number of named characters, but it is kept to a minimum and their role are kept clear. Even though finance and law are not my specialties, it was easy to understand the plot lines.

* Coll writes in a concise and lively style. The story can get a bit tedious, but the text remains lively and interesting.

* The plot is probably more complex, and twisted, than any fiction author would dare to propose. We have the flamboyant and slightly crazed heir, the greedy bankers, the shark lawyers, an entrenched executive and board of directors, the shadowy museum director and billions of dollars in cash. And the last hand is dealt by a small-time lawyer, once step above ambulance-chaser.

* The book gives a nice look at how business was done on 1980’s Wall Street. Not only are the cut-throat tactics revealed, but there is also an examination of the men and women involved. And Hollywood movies to the contrary, there is a sort of code-of-ethics behind all of the players.

=== The Not-So-Good Stuff ===

* Despite the author’s best efforts, the story can drag a bit, especially during the numerous battles between Gordon Getty and the management of Getty Oil. In the book, Getty comes off as a bit of a naïve child in the world of business, and his antics get a bit tiresome.

* The book was originally written in 1987, and is being re-released by Open Road Media. As with many of the books of this type, it would have been interesting to have a chapter to update the readers on new information since the original book was published.


=== Summary ===

This is an incredible story, although it takes some time and effort to understand it enough to appreciate what was going on. I have always had an interest in the mechanics and personalities behind large business deals, and the book doesn’t disappoint. And even though it is 30-year old information, the book still seems relevant and timely. I would recommend the book to anyone with an interest in the topic.