Exxon Dismisses Buyout Bid

Exxon Mobil Corp. on Monday dismissed a bid to acquire it for $450 billion by a little-known Chinese concern with an apparent history of making unsolicited offers for large companies.

King Win Laurel Ltd. filed papers Monday with the U.S. Securities and Exchange Commission offering to buy the world’s largest publicly traded oil company for $35 plus 283.5 yuan per share. The company said the offer was subject to financing and carried certain incentives for shareholders should the price of oil rise further.
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