CNOOC withdraws bid for Unocal

[Paciente]

As pressões políticas foram enormes e a empresa chinesa viu-se "forçada" a retirar a sua proposta de aquisição da Unocal. Isto apesar da sua proposta ser muito superior à da Chevron (e ser totalmente em cash, raro nos dias que correm). Enfim, os accionistas da Unocal é que ficaram a arder.

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02 Aug 2005 13:38 GMT


CNOOC withdraws bid for Unocal


NEW YORK (AFX) -- Hong Kong oil and gas company CNOOC Ltd said it has withdrawn its bid to buy Unocal Corp, mainly because of the political opposition that followed its bid, which CNOOC called "regrettable and unjustified."

CNOOC noted that its 18.5 bln usd cash bid, which it said was for "purely commercial objectives," represented a 1 bln usd premium to ChevronTexaco's bid for Unocal. The company added that it would have improved its bid, but was held back by the political opposition.

"This political environment has made it very difficult for us to accurately assess our chance of success, creating a level of uncertainty that presents an unacceptable risk to our ability to secure this transaction," CNOOC said.