Unocal, Pickens Hold Talks

Mesa Petroleum Co. said today that an investor group led by Texas oilman T. Boone Pickens Jr. held settlement talks with Unocal Corp. in the group’s 3-month-old takeover battle.

But Mesa spokesman Warren Vieth said the talks broke off early today when no agreement could be reached. It was the first time the two sides have discussed a possible settlement. In the past, Unocal Chairman Fred Hartley has said he had no intention of buying back Pickens stock at a premium.