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Show me the money

20 July 2005 By Fiona Maharg-Bravo

The US oil group has raised its offer by 4% and increased the cash component. That’s just enough to close the gap with Chinese rival CNOOC. But it only holds if Chevron s shares don t fall. Unocal’s board backed Chevron’s $17bn bid, but the Chinese still have room for manoeuvre.

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