June 23, 2005
Chinese Invasion Continues: Unocal
Posted by Gordon Smith

Did I say "trend"? Today brings more news of a Chinese company seeking a global presence: The China National Offshore Oil Corporation (CNOOC) has made an unsolicited bid for Unocal, which last month agreed to be acquired by Chevron. The CNOOC bid (all cash) is $18.5 billion, and the Chevron deal (cash plus stock) was valued at $16.4 billion.

This could be a huge on many levels. It will undoubtedly draw Washington's attention, but I also am interested to see whether this results in Delaware litigation. Of course, Unocal was the focus of the most famous Delaware case ever, Unocal Corporation v. Mesa Petroleum, in 1985. This bid places the Unocal board on the hotspot again.

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Links to weblogs that reference Chinese Invasion Continues: Unocal:

» Unocal at 20 from Ideoblog ...
"Steve Bainbridge is working on an article on “Unocal at 20” ..." [more] (Tracked on June 23, 2005 @ 5:24)
» It's official -- CNOOC makes competitive bid for Unocal from Big Cat Chronicles ...
"

Just time for a quick post on this.  Just out from the [more] (Tracked on June 24, 2005 @ 7:48)

» It's official -- CNOOC makes competitive bid for Unocal from Big Cat Chronicles ...
"

Just time for a quick post on this.  Just out from the [more] (Tracked on July 19, 2005 @ 17:35)

» It's official -- CNOOC makes competitive bid for Unocal from Big Cat Chronicles ...
"

Just time for a quick post on this.  Just out from the [more] (Tracked on July 19, 2005 @ 17:36)

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