{
  "id": "RS22192",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RS22192",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 307266,
      "date": "2005-08-16",
      "retrieved": "2016-04-07T19:35:21.521029",
      "title": "Unocal: Legal Implications of Acquisition Bids by Chevron Corp. and China National Offshore Oil Corporation",
      "summary": "The acquisition of Unocal -- which includes Unocal\u2019s wholly owned subsidiary, Union\nOil Co. of\nCalifornia -- by either Chevron Corporation or the China National Offshore Oil Corp. (CNOOC)\ncould have been subject to review by either of two U.S. agencies;  which  agency reviews a\nproposed\nmerger or acquisition depends on the origin of the parties, and the reviews are conducted for\ndifferent reasons. Certain mergers or acquisitions between domestic entities may be evaluated under\nthe Premerger Notification Act by either the Federal Trade Commission (FTC) or the Antitrust\nDivision of the Department of Justice in order to assess a transaction\u2019s likely effect on\ncompetition\nwithin the United States. If the merger partner or acquiring party is a non-U.S. entity, the Committee\non Foreign Investment in the United States (CFIUS) may monitor and evaluate the impact of the\nproposed transaction and determine whether the acquisition implicates national security issues. If\nthe President determines that national security is threatened by the acquisition, he may suspend or\nprohibit the acquisition. This report will set out, briefly, the background and conclusion of the\ncompeting bids for Unocal, the mechanics of the review processes, and present some Congressional\nreaction to the situation. On August 2, 2005, CNOOC withdrew its bid for Unocal, and on August\n10, 2005, Unocal shareholders approved the acquisition by Chevron. This report will not be further\nupdated.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
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      "topics": []
    }
  ],
  "topics": []
}