shares were up Thursday after a report that the energy company has attracted takeover interest from its industry giant
The possibility of a U.S. suitor follows speculation that
China National Offshore Oil Corp.
has been eyeing Unocal.
A merger would be the first involving a major U.S. oil and gas company in years, following a wave of consolidation in the late 1990s.
In a Thursday report,
The Wall Street Journal
cited people familiar with the Unocal-ChevronTexaco situation.
Unocal shares rose 59 cents, or 1.1%, to $53.50 in the premarket Thursday. ChevronTexaco shares rose 63 cents, or 1%, to $61.57 Wednesday.