Some followup Information/Articles on Reliance Offer / Valero Sale:
There’s an article on Reliance/Ambani out of the Economist August 13, 2011 – Reliance – “Too Big for India”. It allows that Reliance has a lot of cash and has outgrown India, ‘will move to acquire a Western energy, refining or petrochemical company’ (toward end of article on page 2).
Here is article (Valero Gains 54% Sale Value due Profits) showing that the sharks see blood in water now! Course surge price already lifted price tag bunch (+$2Bn) – this should lift it enough to make unattractive to few that might make it past anit-foreign ownership barrier. Not sure Reliance/India would fare much better than China or Russian past attempts. Even Kuwait has already been nixed couple times in past/earlier US Refining purchase attempts.
Regards