Ironworks Gaming Forum - View Single Post - US-China trade relations jeopardised

Dreamer128 · 08-03-2005, 09:12 AM

The future of trade relations between the United States and China has become uncertain following the failure of a Chinese takeover bid for the US oil company Unocal. The Chinese former state oil company CNOOC abandoned its attempt to buy the American company on Tuesday, following the passing of new legislation by the US Congress which made the deal virtually impossible.

CNOOC and the Chinese authorities say the handling of the takeover bid was unfair. Analysts are concerned that this could make things difficult for US companies wishing to invest in China.

The way is now free for Chevron, the second largest oil company in the US, to purchase Unocal. Chevron had already offered 17 billion dollars, when it was trumped by the Chinese bid of 18.5 billion.

(rnw.nl)

08-03-2005, 09:12 AM	#1
Dreamer128 Dracolisk Join Date: March 21, 2001 Location: Europe Age: 40 Posts: 6,136	The future of trade relations between the United States and China has become uncertain following the failure of a Chinese takeover bid for the US oil company Unocal. The Chinese former state oil company CNOOC abandoned its attempt to buy the American company on Tuesday, following the passing of new legislation by the US Congress which made the deal virtually impossible. CNOOC and the Chinese authorities say the handling of the takeover bid was unfair. Analysts are concerned that this could make things difficult for US companies wishing to invest in China. The way is now free for Chevron, the second largest oil company in the US, to purchase Unocal. Chevron had already offered 17 billion dollars, when it was trumped by the Chinese bid of 18.5 billion. (rnw.nl)