March 18, 2009

Coca-Cola: Remember Maytag and UNOCAL?

Coca-Cola became the latest business to find its acquistion plans roiled by nationalism. For all the critics of today's decision by the Chinese Ministry of Commerce to thwart the muli-billion dollar proposed acquistion of China Huiyuan Juice by Coca-Cola, I say remember Maytag and UNOCAL?

Back in 2005 and 2006 the US Congress stopped the potentially lucrative - to its shareholders - sales of Maytag to Haier and UNOCAL to CNOOC. And both Democratic and Republican members of Congress continue to prevent Chinese companies from buying their American peers such as in the auto industry. It is 'tit for tat' time in USA-China trade once again...

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