$450 Bil Phantom Bid to Acquire ExxonMobil

I couldn’t resist reporting on this one. A little one man Chinese investment company registered in New Zealand announced a takeover bid for ExxonMobil at at 25% premium to its current shareprice.

Article on Takeover. The company is called King Win Laurel International Ltd, is basically a guy in his house, and previously made offers for Telstra and the New Zealand Yum Brands franchisee. Those were rebuffed too.
You see these tenders every once in a while, often times they are part of larger investment scams. One typical scam (which this does not appear to be), is to issue a microtender for a small number of shares at below the current share price, and try to get gullible investors to sell into it. Others are just straight-up hoaxes. Article on Telstra Offer.
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