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Cnooc, based in Beijing and controlled by the Chinese government, made an $18.5 billion offer this summer for California-based Unocal. Though later withdrawn, the deal was sharply criticized by politicians for economic and security reasons. Such concerns have also led to efforts to expand CFIUS' authority. But some skeptics think the effort is just a ploy to enable the panel to reject deals that lawmakers don't like.
October 18, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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