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CNOOC folds on Unocal bid
The China National Offshore Oil Corp Ltd. announced yesterday that it is abandoning its effort to acquire second-tier U.S. exploration and production company Unocal Corp, paving the way for Unocal shareholders to accept Chevron's competing bid. Here are the previous...
Chevron trumps CNOOC on Unocal bidding
Chevron Corp. has increased its acquisition offer for Unocal to about $63 a share and Unocal's board is supporting that offer over the competing bid of the China National Offshore Oil Corp. Here are the previous posts on the bidding...
The risk of rising U.S. debt
Awhile back, this post made the point that, rather than focusing on CNOOC's bid to overpay for a second tier U.S. oil & gas company such as Unocal, the real issue that needs to be addressed is that American society...
Chevron's pitch to Unocal shareholders
In this WSJ ($) op-ed, Chevron Corporation CEO David O'Reilly makes the case to Unocal Corp. shareholders for choosing Chevron's lower bid for the company over the China National Offshore Oil Corp.'s higher bid (here are the previous posts on...
More on the CNOOC bid for Unocal
This earlier post addressed the folly of developing a mercantilist governmental policy in response to the China National Offshore Oil Corp.'s hostile takeover bid for Unocal, which had previously accepted Chevron Corporation's friendly bid for the company. In this OpinionJournal...
The folly of mercantilism
Sebastian Mallaby joined the Washington Post editorial page in 1999 after 13 years with The Economist magazine, and is the author of The World's Banker: A Story of Failed States, Financial Crises, and the Wealth and Poverty of Nations (Penguin...
Big Chinese company takes on Chevron over Unocal
Cnooc Ltd., China's third-largest oil company and it's major explorer of offshore oil and gas, yesterday made an unsolicited $18.5 billion cash bid for El Segundo, CA.-based Unocal Corp. The bid is attempting to scuttle the earlier $16.5 billion bid...
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