Business Case Studies, Govenrment and Business Environment Case Study, nocal Bid and the Fallout

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Case Title:

Unocal Bid and the Fallout

Publication Year : 2006

Authors:  Doris John

Industry: Oil and Natural Gas

Region:China

Case Code: GBE0052C

Teaching Note: Not Available

Structured Assignment: Not Available

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Abstract:
In August 2005, the Chinese oil company China National Offshore Oil Corporation Limited (CNOOC Ltd) withdrew its $18.5 billion takeover offer for Unocal, a California-based energy company. It acknowledged that its bid had created broad political and public antagonisms in the United States and had little chance of being completed. CNOOC Ltd.’s withdrawal from the bid ended a hotly contested takeover battle between CNOOC Ltd. and Chevron, the huge American energy company. Both companies were vying to acquire Unocal's oil and natural gas assets, much of it which was in Asia. The Unocal shareholders on 10th August 2005 voted in favor of Chevron, in spite of a higher bid by CNOOC Ltd.

The case details the political climate that prevailed during the bid. It provides scope for discussion on how the political environment could impact the fate of a business deal and also the future of Sino-American relations on account of the failed bid.

Pedagogical Objectives:

  • To discuss how political climate affects a bid
  • To discuss world oil scenario and the future of Sino-American trade relations.

Keywords : Unocal,Government and Business Environment Case Study, CNOOC, Oil &, Natural Gas company, Chevron, political climate, Sino-American trade relations, shareholder value, takeover, bid, world energy scenario

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