King Win Bids for ExxonMobil?

This has to be one of the weirdest stories I’ve seen in awhile. An unknown Chinese company called King Win Laurel Ltd. has filed to buy out ExxonMobil (XOM) for $450 billion. In cash.
**wiping tear**
Apparently, they’re serious, or at least, they think they’re serious. This isn’t some Halloween Orson Wells Martians are in New Jersey thing. I’m curious where they keep $450 billion stashed right now.

King Win said it was incorporated in New Zealand on October 21 for the sole purpose of buying Exxon. A call to the Beijing number for King Win in the SEC documents elicited only a busy signal.
“It’s difficult to measure this offer as little is known about how the bidder would finance the transaction,” BOSC Inc. debt analyst Jon Cartwright said. “While our initial feeling is to ignore the offer, it is academically possible that the bidder could receive funding, making this offer real.”
Last year, an entity called King Win Laurel International Ltd. launched an unsolicited offer to acquire Telstra, which was also dismissed as a hoax. King Win Laurel International also launched a bid in 2004 for Restaurant Brands, which was dismissed by New Zealand regulators.

Dr. Evil and I would like to make a counter offer of $450 gazillion bagillion. I’ll even answer the phone.

Posted by on October 31st, 2005 at 12:47 pm

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