1. Oil Battle Sets Showdown Over China.
- Author
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Berman, Dennis K., Ball, Jeffrey, and Herrick, Thaddeus
- Subjects
- *
MERGERS & acquisitions , *BIDS , *AMERICAN business enterprises , *SALE of business enterprises , *STOCKHOLDERS , *STOCKS (Finance) , *ENERGY industries , *PETROLEUM industry , *GAS industry , *NATIONALISM - Abstract
Looks at how China's state-owned Cnooc Ltd., Chevron Corp., and Unocal Corp., are focusing on financial outlooks, nationalism and business and political connections and preparing for a takeover battle following Cnooc's multi-billion dollar preemptive bid to buy the American energy company Unocal. Waiver granted to Unocal by Chevron, allowing it to negotiate directly with Cnooc; Potential implications for shareholders with regard to the bid and the potential deal; Suggestion that the deal is not a threat to the United States market because the majority of Unocal's assets are in Asia and already sold to Asian markets.
- Published
- 2005