You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

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

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-05 05:24 AM
Response to Original message
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
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC