Posted on 07/13/2005 8:47:14 AM PDT by Alexander Rubin
Toronto-- Tomorrow is D-Day for the Republic of China gaining a toehold in the American business world.
Thursday is the day when the battle between Chevron corp. and CNOOC over Unocal Corp. is set to come to a head with the U.S. company’s board due to decide whether to back the Chinese group’s US$18.5-billion bid and withdraw support for Chevron’s US$16.6-billion cash-and-share offer, says the Financial Times.
"The Unocal board’s decision is crucial to the outcome of CNOOC’s attempt to challenge Chevron–a move that has sparked a barrage of opposition from U.S. politicians."
CNOOC’s offer will be the subject of a hearing in Washington today before the house armed services committee.
Missing from the takeover battle–the first of this scale by a communist Chinese company--is the due diligence of the mainline media.
(Excerpt) Read more at canadafreepress.com ...
Cool. Ill check it out then get back to you.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.