Simon World offers a great roundup of blog opinion on CNOOC’s bid for Unocal. The top-spot goes to this item from Hemlock.:
From Chevron’s point of view, it’s not fair. But
assuming CNOOC’s bid passes muster with regulatory and legal
authorities, that’s too bad. Chevron has ‘lost’ one potential
opportunity but still has its money and the possibilities it offers.
Unocal’s owners are clear winners, getting a juicy price for their
asset. We CNOOC owners gain an overpriced acquisition at subsidized
financing costs – let’s say it nets out. So does that leave the Chinese
taxpayer as the main possible loser? Or are the sneaky commie hordes
the ultimate winners?
[link]
