The Museum of Hoaxes
hoax archive hoax archive hoax archive hoax archive hoax archive
Hoaxes Throughout History
Middle AgesEarly Modern1700s1800-1840s1850-1890s
1900s1910s1920s1930s1940s1950s1960s1970s1980s1990s21st Century2014
Chinese Company Bids $450bn for Exxon
Status: Hoax
I find this very strange. A Chinese company, King Win Laurel, has filed paperwork with the SEC indicating that it's planning to make a bid to buy oil giant Exxon for $450bn. But analysts are dismissing the bid as a prank, since King Win Laurel doesn't have the kind of money necessary to make good on such an offer. Apparently King Win Laurel has a history of making hoax bids. Last year, for instance, it made a fake bid to buy Telstra. It also tried to buy a New Zealand firm called Restaurant Brands, but that offer was rejected by local regulators. So what we have here is a Chinese firm that simply likes making fake offers to buy companies. I have no idea what it's possible motivation could be.
Posted by The Curator on Wed Nov 02, 2005

I was just reading that the company who is doing this is working out of a $150 a month apartment rental. Now I know cost of living is lower, so the $150 doesn't matter, but an apartment? I agree with Alex - hoax.
Posted by Winona  in  USA  on  Wed Nov 02, 2005  at  01:59 AM
I heard about that somewhere.....
Posted by X  in  McKinney, TX  on  Wed Nov 02, 2005  at  10:48 AM
A while back I offered to buy Exxon/Mobil for $4.50, but they turned down my bid. long face

I guess I'll have to go see what Enron's going for these days.
Posted by Big Gary in Dallas  in  Dallas, Texas  on  Wed Nov 02, 2005  at  06:36 PM
they might be buying into the companies before hand and selling off on the spike associated with the takeover bid announcement
Posted by ME  in  Sydney, Australia  on  Sun Nov 06, 2005  at  12:46 AM
the man is a genius as fa as publicity is concerned. for $200 or so in filing fees he has publicity, albiet negative publicity, and thousands upon thousands of people have now heard of 'king win laurel'....
Posted by izzy  in  usa  on  Sun Dec 11, 2005  at  11:18 PM
Commenting is no longer available in this channel entry.
All text Copyright © 2014 by Alex Boese, except where otherwise indicated. All rights reserved.