Chevron Unocal: A $1.1 Billion “Reporting Irregularity”
Wall Street Journal, August 10, on the Chevron-Unocal deal (link requires subscription):
In Unocal Bid, Chevron Bets on High Oil Prices
With its planned purchase of Unocal for $18.1 billion, Chevron has landed the biggest oil acquisition in years and snatched a prize away from a Chinese company. But behind the victory lies a giant bet on the future of energy prices.
Bloomberg News, August 10:
Unocal Holders Approve Chevron’s $17.8 Bln Purchase (Update6)
August 10, 2005 17:40 EDT — Unocal Corp. shareholders approved Chevron Corp.’s $17.8 billion takeover, which beat out a rival bid from China’s Cnooc Ltd. that U.S. lawmakers opposed.
USA Today via Reuters, August 10:
Unocal shareholders approve Chevron offer
LOS ANGELES (Reuters) — Shareholders in oil and gas producer Unocal (UCL) Wednesday approved the acquisition of the company by oil major Chevron (CVX) in a deal worth more than $17 billion.
Good thing I didn’t look for any more sources, Unocal might soon be worthless.
