Tuesday, November 01, 2005

Crazy business story of the day

Some Chinese outfit that no one has ever heard of has filed paperwork to buy ExxonMobil for $70/share. This comes to $450 billion for the company.

The Chinese are hard-up for oil, and it's not out of the question that the Chinese government is behind King Win Laurel, the company making the offer. SEC rules require some verification of identity to even submit the offer, so it's probably not some nutball in his underwear.

Crazy, but perhaps worth watching.

UPDATE: This is looking more and more like a hoax.

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