China in talks to buy Husky

[CHIMO]

The Chinese government is in discussions to acquire Calgary-based oil and gas giant Husky Energy Inc. from Hong Kong billionaire Li Ka-shing, in the emerging Asian power's latest move to deepen its economic ties with resource-rich countries such as Canada.

Sources familiar with the talks said representatives from the Li family and China entered negotiations for what would be a multibillion-dollar takeover several weeks ago in Beijing and Hong Kong.

Husky's stock has risen sharply in recent weeks on heavy trading amid takeover rumours and a continuing rally in energy shares. The company's shares closed yesterday on the Toronto Stock Exchange at $33.37, up 25 cents, giving Husky an indicated takeover price of more than $14-billion if all its shares are acquired.

China is also in discussions to acquire Toronto mining giant Noranda Inc. through its state-owned mining company China Minmetals Corp. People familiar with the Noranda and Husky negotiations said they expect the talks will be prolonged because they involve several layers of Chinese officials who are very cautious.

http://www.theglobeandmail.com/servlet/story/RTGAM.20041126.wxhusky1126/BNStory/Business/

[Niccolo_Macchiavelli]

1. hmmm is it just me...

or does it seem like china is moving its scissors to US-influx pipeleines.

[Tempest]

2. Bush's tiff with Canada is paying off...

For China.

Get ready for the next depression.


As China strengthens its position in the oil market, the U.S. deficit will prevent it from competing for oil in the world market.

China will easily handle the increase prices in the oil market, using the U.S.' own currency against it.

The U.S. will have no choice but to either declare bankruptcy or invade another oil country since Iraq isn't paying off like Bush expected it too.


Things are going to get very ugly all too soon.

[Bluebear]

3. Poppy was ambassador to what country? I 'forget'?

http://www.usatoday.com/news/washington/2002/02/19/usat-prescott-bush.htm

CHICAGO — When President Bush arrives in Beijing on Thursday, he'll embrace a policy that's something of a family tradition.

Bush's approach centers on promoting U.S.-China economic ties. That's a course favored not only by his father, the first President Bush, but also by his uncle, Prescott Bush Jr., a longtime acquaintance of Chinese President Jiang Zemin.

The Bush family's ties to China go back to 1974, when President Nixon named George Bush ambassador to China. The college-age George W. Bush spent two months in China visiting his parents during his father's two-year stint.

Seven years after his brother left the ambassadorial post, Prescott Bush made his first trip to China. He later joined with Japanese partners in 1988 to build a golf course in Shanghai, the first in China. He met Jiang, who was then the mayor of Shanghai.

[Tempest]

4. It's no surprise the Bush family sold out the U.S. to China

They did the same thing when they sold out the U.S. to Saudi Arabia.

[Cooley Hurd]

5. But Klint00n was the one bought and paid for by the Chinese!

:crazy:

</freep>

[Deja Q]

6. WWKD...

What would Kerry do...

If this is about the war for oil domination, which the US is covertly pursuing under the name 'war on terror', that little purchase is going to have repercussions for the US; especially as corporate america uses China as it would use a condom.

[Spazito]

7. Things are getting interesting on the interest in Canadian...

businesses. Here is an article on the bidding for Stelco:

U.S. Steel joins Stelco bidding

United States Steel Corp. jumped into the bidding war for Stelco Inc. yesterday, saying it would be interested in purchasing the Canadian steel giant's Hilton Works in Hamilton and Lake Erie operations in Nanticoke, Ont.

snip

U.S. Steel joins Russian steel maker OAO Severstal as one of two steel companies that have made public their intention to bid for Stelco, which has been operating under the protection of the Companies' Creditors Arrangement Act since Jan. 29. The two also went at it hammer and tongs last year in a battle to buy bankrupt Rouge Steel Inc. of Dearborn, Mich. Severstal was victorious.

snip

Source said financial players such as Deutsche Bank won't back down in the face of U.S. Steel's bid.

"Deutsche Bank and some of the other financial bidders have extremely deep pockets. They are quite capable of hanging in against anyone if they see a better long-term gain on turning around Stelco and taking it out of court protection," said one investment banker familiar with the steel companies.

more

http://www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20041125/RSTELCO/TPBusiness/?query=Stelco

[Career Prole]

8. "China in talks to buy Husky"...drop the H, the K, and the Y

and you've got a 2008 headline.

[Spazito]

9. LOL!

[phasev]

10. Ka-ching! n/t