Unocal board backs higher Chevron bidChevron boosts cash/stock package to $17 billion, while Chinese firm CNOOC sticks with its $18.5 billion cash offer Gary Gentile Associated Press Business Writer
China’s CNOOC Ltd. stuck by its original bid for Unocal Corp. July 20, even as Unocal’s board endorsed a sweetened offer from rival bidder Chevron Corp.
“We regret that they have not yet embraced our offer,” CNOOC Ltd. said in a prepared statement. “We will continue to monitor the situation activel....
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Analyst: CNOOC would have to add financial guarantee Political support for Chevron China accused or hoarding
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