Unocal holders convert 304,150 shares of 6¼% preferreds

Pittsburgh, Sept. 21 - Unocal Corp. said holders of 304,150 shares of its 6¼% trust convertible preferred securities converted their preferreds into shares of Unocal common stock before redemption.

A total of 4.9 million shares of the securities were redeemed for $250 million, according to a company news release.

Unocal is an El Segundo, Calif., independent natural gas and crude oil exploration and production company.

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