Not everyone in Asia thinks that CNOOC’s attempt to buy Unocal — which has been rejected by Unocal’s board of directors — is a good idea. In fact, some investors in CNOOC are so concerned they are voting with their feet: HONG KONG (Dow Jones)–CNOOC Ltd.’s (0883.HK) largest non-government shareholder, William Blair & Co., has sold its stake worth US$41 million in the Chinese oil company because it doesn’t support its offer for Unocal Corp. (UCL), reports The Standard in its Wednesday edition, quoting Bloomberg. “We’re not in favor of the bid,” said David Merjan, who helps manage US$11 billion … Continue reading The Market Responds