Late 70s Norway proposed a deal with volvo for 40% of the company in exchange for a share of the new Oseberg oil field. High level - brokered by Norwegian primeminister and volvo CEO, Norway had small industrial base and needed investment to develop its oil reserves, volvo was v successful but lacked the clout to compete with the US giants. Deal was blocked by volvo shareholders (actually passed a majority vote but failed to get a 66% supermajority).
Labelled as one of the worst business decisions in history, as the Oseberg oil field went on to produce approx 200 billion dollars worth of oil, plus natural gas, and volvo declined to (first) a 6.5 billion dollar sale to Ford in the late 90s, then sold at a big loss to a Chinese company.
But it's all easy in hindsight.
Story told here: