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CNOOC’s bid for Unocal was still making news today. The New York Times reported Chevron Corp. has gone into overdrive to portray the Chinese government-backed offer as unfair competition
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“In Seeking Unocal, Chevron Ruffles an Asian Partner”
– registration required)
. The Wall Street Journal said that regardless of whether CNOOC’s bid succeeds, a wave of Chinese acquisitions of U.S. companies is likely in coming years
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“Chinese Acquisitions in U.S. Mean Changes for American Workers”
– subscription required)
. The Los Angeles Times noted the bid will thrust the little-known Committee on Foreign Investment may into a high-profile role
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“Panel Has a Big Say in Foreign Purchases”
– registration required)
. The Washington Post reported the Chinese Foreign Ministry is criticizing demands by the U.S. Congress for a government review
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“China Tells Congress to Back Off Businesses”
– registration required).
And Reuters aired speculation that Chevron and CNOOC may eventually agree to split up the U.S. oil producer
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“Chevron and CNOOC May Carve Up Unocal”
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