Mises Wire
Author:
J. Henderson
Online Publish Date:
Chevron raised its bid for Unocal to $63.01 per share, compared with CNOOC’s bid worth $65.50. Unocal directors approved the Chevron bid, as Chevron’s bid is favored by the U.S. government and faces less regulatory harassment. Chevron has been lobbying intensely to raise the expense and political risk of CNOOC’s bid. It employed Wayne Berman, a