Corporate M&A: Few Deals, But Much Hostility as Buyers Plot Takeovers

摘要

In the few instances where corporate M&A activity has emerged in the global upstream industry during the current oil price downturn, it's often been hostile. Indeed, save for Royal Dutch Shell's $82 billion bid for BG in April, most attempted corporate tie-ups in the oil and gas sector this year have involved unsolicited bids, with recent targets of hostile takeovers including Australia's Santos and Oil Search, Latin American producer Pacific Rubiales, and Canadian Oil Sands. Even Halliburton's bid for Baker Hughes last year took an ugly turn before the two sides agreed on the $38 billion merger (EIF Nov. 19'15).