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China's CNOOC eyes higher Unocal bid - FT
www.chinanews.cn 2005-07-14 09:25:05
(Source: China Daily)
BEIJING, July 14 - China's CNOOC Ltd will consider raising its 18.5
billion USD takeover bid for U.S. oil producer Unocal, the Financial
Times reported on Wednesday citing people familiar with the matter.
The paper said CNOOC's board was expected to approve changes to the bid,
including giving management permission to raise the takeover offer above
the 67 USD per share in cash already offered. CNOOC's bid tops a 16
billion USD offer from Chevron Corp, although it faces numerous
regulatory and political hurdles.
Investor and analysts expect that Unocal will press Chevron to lift its
offer or risk losing its support for the deal. The Unocal board is due to
meet this week to discuss the takeover offers.
��Unocal may conditionally support CNOOC's takeover bid
(2005-07-07)
��CNOOC volunteers for acquisition review (2005-07-04)
��CNOOC defends Unocal bid (2005-07-03)
��CNOOC hopes US to review Unocal bid soon (2005-07-02)
��CNOOC's bid may ease yuan's pressure (2005-07-01)
��Unocal to vote on CNOOC takeover bid Aug.10 (2005-06-30)
��US gov't urged to stay out of CNOOC bid (2005-06-30)
��FM: CNOOC's Unocal bid is pure business (2005-06-29)
��Bush expects review of CNOOC' bid for Unocal (2005-06-28)
��Unocal to negotiate with CNOOC on merger offer (2005-06-24)
��CNOOC offers 18.5 bln dollars for Unocal (2005-06-23)
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