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CNOOC’s bid for Unocal was still making news today. The Wall Street Journal said that the U.S. Committee on Foreign Investment declined to begin a review of CNOOC Ltd.’s proposed $18.5 billion acquisition of Unocal Corp. and won’t open an investigation until the two sides have a solid deal in hand (
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CNOOC Bid Review Is Dealt Setback
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). The Financial Times said that CNOOC is considering raising its bid, reflecting the Chinese firm’s determination to woo Unocal shareholders away from a competing bid by Chevron Corp. (
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CNOOC May Raise Its Unocal Bid
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). MarketWatch said that Chevron Corp. needs to boost its offer for Unocal if it wants to beat out its Chinese rival (
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New Bid From Chevron Seen as Critical
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). And the Gulf Times reported that some U.S. senators asked Commerce Secretary Carlos Gutierrez to review whether cheap loans CNOOC has arranged to fund its bid amount to a breach by China of its WTO commitments (
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CNOOC’s ‘Offer May Break’ WTO Pledges
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).