With globalization and the current US Govt’s obsession with the spread of freedom and democracy and its pre-occupation with Iraq, the US economy has been sinking steadily. As companies continue to under perform (like Unocal) and their values drop, such mergers and acquisitions are bound to happen. Rather than get into protectionist mode and prevent such mergers, I think these mergers should be encouraged. Its just the inevitable result of globalization and the growth of Asian economies. So “let’s bring’m on”
First IBM-Lenova, then Maytag-Haier and now Unocal-CNOOC (wonder why India’s’ ONGC didn’t bid on this?). Suddenly, you have a hue and cry from all corners of the US, fears of security and what not. I think these large global mergers are just beginning.