July 06, 2005
Ribstein on CNOOC's Unocal Bid
Posted by Gordon Smith

Larry Ribstein has checked in on the Unocal saga, and he has this original take on why those who are worred about U.S. interests might like the idea of Chinese ownership:

If Cnooc doesn’t own the company, the market will push the resources and jobs to the highest value users and workers, who may not be Americans.  But Cnooc and the Chinese government have an incentive to give the US special consideration if they want to do more US deals.

Hmm. Maybe. Though I suspect that the people who are lobbying against this on patriotic grounds would more readily trust the assets in Chevron's hands. In any event, I agree with Larry about this: "the best way to protect US companies from foreign ownership is to ensure that they’re managed well."

Read the whole post.

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