Unocal Accepts New Chevron Bid

globeandmail.com ^ | 7/20/05 | AP

[eastforker]

Unocal's board of directors has endorsed a sweetened, $17-billion (U.S.) takeover bid from Chevron, rejecting a higher offer from one of China's state-owned oil companies.

[eastforker]

Click URL to read

[Go Gordon]

Take that China!

[dirtboy]

And Condi Rice used to be on the board of Chevron.

Let the liberal moonbat conspiracies commence. I'm just glad someone didn't let the ChiComs get ahold of Unocal.

[lilylangtree]

Wonder what China's retaliatory forms would be if Unocal accepts Chevron's bid?

[eastforker]

Good for unocal for rejecting China's offer.

[areafiftyone]

BUH BYE China! heh heh!

[1rudeboy]

I also heard that the Chinese offer for Maytag fell through.

[eastforker]

What good is money if no one will let you spend it.

[numberonepal]

Whew! Thank goodness some national pride and sanity remains.

[areafiftyone]

Oh they can always give it to Pooty Poot. I heard Pooty is selling lots of stuff to the Chinese! With friends like Pooty who needs enemies.

[kellynla]

EXCELLENT NEWS!

thanks for posting it..

I wasn't quite ready to learn Chinese. LOL

[Stellar Dendrite]

I hear that....I was quite worried about this.

[Arizona Carolyn]

Amen.... what a relief. If I was on the UnoCal BOD I wouldn't want the higher bid if it meant selling out my country... like someone said the other day: When WE can buy property and businesses in China.... THEN and only then talk to us!

[groovychick]

I am very relieved about that....
I thought the US has now gone completely insane
if we would give China control of a major source
of US oil.
China is our friend kinda like the Saudis are
our friends and with friends like that.....
well you know the rest!

[nuffsenuff]

But isn't Chevron a French company?

(Just kidding)

[RockinRight]

Perhaps SOME US corporations are still patriotic.

[numberonepal]

I was quite worried about this.

Me too. I had a knot in my stomach the moment I heard the ChiComs had a superior bid and it was being entertained. IMHO, they shouldn't have been allowed at the negotiating table - period. Carolyn is correct, when we can buy property in China, then we'll discuss them doing it here.

[b4its2late]

Good.

But watch, China will now try to take over Chevron.....

[Fatalist]

Actually, I think they're a Venezuelan company. So instead of a win for the Chinese communists, it's a win for the South American communists.

[green iguana]

It's a good sign, but doesn't mean the sale will go through that way. All the board is doing is recommending to the shareholders that they accept Chevron's bid. Doesn't mean they will.