Word: buyouts
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...based executives of the threatened companies maintained sphinxlike silence about the demand, but other oilmen in Tripoli believe that the firms did submit vaguely worded takeover proposals before the deadline. Nervous Americans, faced with the peculiar task of proposing terms for their own buyout, complained privately that they did not know exactly what Gaddafi meant by "100% control." At minimum, Gaddafi might settle for part ownership of their assets and the appointment of Libyan nationals as chief executives. At the extreme, he will push for complete nationalization...