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Reply #2: Chevron 2Q Report Could Sway Unocal Bid [View All]

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ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-05 05:24 AM
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2. Chevron 2Q Report Could Sway Unocal Bid
SAN FRANCISCO (AP) -- The stakes will be higher than usual Friday morning when Chevron Corp. discloses its second-quarter earnings -- the results could deliver a pivotal blow in the company's politically charged battle to buy Unocal Corp.

The financial report for the three months ended in June will carry added punch because it's likely to influence the price of Chevron's stock, which is being used to pay for 60 percent of the company's Unocal bid.

If Chevron's quarterly profit is impressive enough to boost the company's stock price, then the Unocal offer becomes worth more than its value of $17.3 billion, or $64.02 per share, based on Thursday's trading on the New York Stock Exchange.

As Chevron's bid becomes more valuable, it becomes more difficult for China's government-owned CNOOC Ltd. to overcome the prickly political opposition to its rival bid and persuade Unocal shareholders to accept its higher all-cash offer of $18.1 billion, or $67 per share.

more...

http://biz.yahoo.com/ap/050729/chevron_unocal.html?.v=4
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  -STOCK MARKET WATCH, Friday 29 July ozymandius  Jul-29-05 05:09 AM   #0 
  - WrapUp by Martin Goldberg  ozymandius   Jul-29-05 05:14 AM   #1 
  - Hi Ozy. Do you see any small cap stocks benefitting from energy bill?  Joanne98   Jul-29-05 05:26 AM   #3 
     - probably not  ozymandius   Jul-29-05 05:48 AM   #4 
        - This is probably true of ...  punpirate   Jul-29-05 06:31 AM   #5 
  - Chevron 2Q Report Could Sway Unocal Bid  ozymandius   Jul-29-05 05:24 AM   #2 
  - Chevron's quarterly profit declines  UpInArms   Jul-29-05 07:47 AM   #15 
  - daily dollar watch  UpInArms   Jul-29-05 07:15 AM   #6 
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  - Today's Reports:  UpInArms   Jul-29-05 07:25 AM   #7 
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  - UMich report in  UpInArms   Jul-29-05 08:55 AM   #36 
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  - Every time the man opens his mouth I envision something like this  54anickel   Jul-29-05 08:54 AM   #35 
     - You are too kind.  ozymandius   Jul-29-05 09:30 AM   #44 
        - Heh-heh - well, there IS that too...eom  54anickel   Jul-29-05 09:40 AM   #45 
        - I'm thinking it's not just Snow he salutes that way. That's directed at  54anickel   Jul-29-05 02:45 PM   #58 
  - GAO to SEC: Improve Your Controls  54anickel   Jul-29-05 08:50 AM   #34 
  - But how - oh how - could have yesterday's sentiments been so wr-wr-wrong?  ozymandius   Jul-29-05 08:56 AM   #37 
  - Parmalat files complaint against S&P (for cheerleading)  UpInArms   Jul-29-05 09:01 AM   #38 
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  - Good to know the "economy has grown"....  loudsue   Jul-29-05 10:52 AM   #49 
  - 12:21 numbers and yada Hmmm, must be Friday  54anickel   Jul-29-05 11:23 AM   #50 
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  - 1:18 update red is still good news  54anickel   Jul-29-05 12:21 PM   #52 
     - range bound again  ozymandius   Jul-29-05 12:47 PM   #54 
  - Check out Forbes "Buying the American Dream"  54anickel   Jul-29-05 12:38 PM   #53 
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  - Economy Looks Strong Going Into 2nd Half  54anickel   Jul-29-05 03:06 PM   #60 
  - Ha ha! I was expecting to see "eyes" at the end of this.  ozymandius   Jul-29-05 03:33 PM   #62 
     - The Koolaid has been spiked again  54anickel   Jul-29-05 05:07 PM   #63 
  - closing numbers, blather included  ozymandius   Jul-29-05 03:31 PM   #61 
  - UIA, a bit more in depth interview with the author of Greenspan's Fraud  54anickel   Jul-29-05 08:47 PM   #64 
 

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