Chinese Company Bids $450bn for Exxon
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.
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