The Chinese National Offshore Oil Company told the Financial Times they might just up the ante up and over their $18.5 billion bid for California based Unocal. The bid, China hoped would be just another business deal but as this saga continues, its international proportions continue to grow.
Unocal Might Consider CNOOC Bid, With Conditions
A bid from the Chinese company may get more Unocal support, provided CNOOC fulfills certain requirements.
China Steps Up Unocal Rhetoric
The California-based energy company Unocal has takeover bids from Chevron and China National Offshore Oil Company on the table.
House Opposes CNOOC Bid For Unocal
Two measures passed the House on Thursday, aimed at keeping Unocal out of the Chinese energy company’s hands.
Unocal Offers Will Only Get Sweeter
If a government national security review panel approves CNOOC’s plan to buy Unocal, Chevron will have to up the ante.
CNOOC And Chevron Battle For Unocal
The Chinese National Offshore Oil Company (CNOOC) and Chevron battle for the Unocal oil company. Chevron thought they had a done deal back in April when they made an offer of $61.24 a share or roughly $16.1 billion in cash and stocks. This week CNOOC made a solid offer of $18.5 billion in cool cash but if Unocal does decide to entertain CNOOC’s offer, whoa boy there’s gonna be a lot of hoops to jump through.
Unocal Bidding War Seems Likely
As China’s Cnooc ups the price to $18.5 billion USD, Chevron will likely have to respond with a higher bid.
Bidding War In Asia: CNOOC Vs. Chevron For Unocal
The Chinese National Offshore Oil Company (CNOOC) put in an unsolicited $18.5 billion bid for Unocal, challenging Chevron’s April move to acquire the oil company. Neither is a done deal and this marks China’s continued assertion into corporate hardball.
ChevronTexaco Buys Unocal
ChevronTexaco is acquiring Unocal in a stock and cash transaction valued at approximately $18 billion, including net debt.
CNOOC May Have Eyes for Unocal
Chinese oil and gas giant, CNOOC, is allegedly planning a $13 billion bid for the U.S. company, Unocal according to a Financial Times report.