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Last Updated: Wednesday, 10 August 2005, 18:32 GMT 19:32 UK
Unocal shareholders back Chevron
Unocal platform off Thailand
Unocal's board had already backed Chevron's bid
Shareholders of oil and gas producer Unocal have given their preliminary approval to a $17.3bn (9bn) takeover offer from larger US rival Chevron.

The deal, which is expected to be rubber stamped on 17 August, will pay $30.13 in cash and 0.6 Chevron shares for each Unocal share.

Until last week Chinese oil producer CNOOC was putting forward a rival and higher $18.5bn offer for Unocal.

CNOOC eventually pulled out due to strong political opposition in the US.

Some US politicians said the offer from the state-owned Chinese company posed a potential threat to national security.

This left the way clear for Chevron, whose offer had been approved by the Unocal board on 20 July.

Chinese firm abandons Unocal bid
02 Aug 05 |  Business
Unocal backs Chevron's new offer
20 Jul 05 |  Business
China calls for Unocal bid review
03 Jul 05 |  Business
China oil firm in Unocal bid war
23 Jun 05 |  Business

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