| Earlier this summer, the China National Offshore Oil Corporation, known as CNOOC, made a cash offer of $18.5 billion to buy Unocal. It was a friendly offer, and since 70 percent of Unocal’s reserves are near Asian markets where CNOOC operates, it seemed to make sense to the company, which is owned by the Chinese government. |
| According to numerous sources ranging from the New York Times and Reuters to Fortune magazine, one clear sign of renewed economic health in this country is the recent boom in mergers and acquisitions. Even the perpetually gloomy takeover lawyer, Martin Lipton, who once declared the virtual demise of M&A activity, recently announced that, we are in a burgeoning mergers and acquisitions boom. |