BEIJING (AP) - State-owned CNOOC Ltd., China's third-biggest oil producer, made a US$18.5 billion (euro15.3 billion) bid Thursday for U.S. oil company Unocal Corp., setting up a possible contest with rival bidder Chevron Corp.
The CNOOC bid was the biggest yet in a multibillion-dollar wave of foreign takeover attempts by Chinese companies trying to secure a place in the top ranks of global competitors.
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