Aug 27, 2014 07:27 UTC

Aggressive M&A puts focus on Thai tycoon’s empire

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By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Charoen Sirivadhanabhakdi’s appetite for deals has put his sprawling empire in focus. The Thai drinks-to-property tycoon is eyeing more acquisitions on top of the $3.3 billion his companies have spent this year. Investors have already given a poor reception to his most recent deals. A pick’n’mix approach to public markets may explain some of their doubts.

Aug 26, 2014 20:19 UTC

Buffett and tax outrage both diversions in BK deal

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By Robert Cyran

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Warren Buffett’s name is giving Burger King’s deal to buy Tim Hortons, now worth some $11 billion, a public relations boost. But some commentators on Twitter are calling the Berkshire Hathaway boss a hypocrite and branding him unpatriotic for supporting a company moving from the United States tax jurisdiction to Canada. Both sentiments are diversions.

Aug 26, 2014 19:09 UTC

Burger King tax flip merger logic doesn’t stack up

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By Kevin Allison

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It will take more than a crossing of the Canadian border to justify investor ebullience for a potential Burger King-Tim Hortons combination.

Aug 26, 2014 18:15 UTC

Why can Burger King, but not Wendy’s, own Hortons?

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By Rob Cox

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Why can Burger King, but not Wendy’s, own Tim Hortons? Burger King used to argue that it was exceptional for the flame-broiling of its burgers. With its $11 billion purchase of the Canadian doughnut-chain, its shareholders seem to believe it is special in some other ways.

Aug 25, 2014 19:26 UTC

Roche’s $8 bln bet outsmarts ice-bucket challenge

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By Robert Cyran

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Roche’s latest $8 billion bet may outsmart the ice-bucket challenge. Dumping cold water on heads, the social-media phenomenon now boosting research on Lou Gehrig’s disease or amyotrophic lateral sclerosis (ALS), is a great way to raise charitable cash. But the drug made by Roche’s target, InterMune, treats an obscure yet equally fatal disease with more sufferers.

Aug 18, 2014 18:53 UTC

Dollar store bid battle leaves value on the table

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By Kevin Allison

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Dollar store mergers, it turns out, don’t come cheap. Dollar General – call it General – on Monday joined the fight for rival U.S. discount retailer Family Dollar with a $9.7 billion cash offer. That topped an earlier agreed acquisition of Family by the smaller Dollar Tree, which as wags have noted could result in a combination called Family Tree. Even above General’s $78.50 a share bid, though, both of Family’s suitors have room to lob in a few more singles.

Aug 15, 2014 18:43 UTC

Coke investment reveals half-empty idea bottle

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By Kevin Allison

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Coca-Cola’s latest investment reveals its idea bottle to be half empty. The $180 billion soda giant is paying $2.2 billion for 17 percent of Monster Beverage, a maker of trendy energy drinks. It goes to show how even a global powerhouse with significant distribution and marketing advantages can struggle to keep ahead of upstart rivals. At least Coke got the deal formula right.

Aug 14, 2014 19:28 UTC

Venezuela digs way to distressed seller status

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By Christopher Swann

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Venezuela is digging its way to distressed seller status. The country wants to offload Citgo, its U.S. refinery and pipelines unit. It may be worth up to $15 billion, money that’s sorely needed thanks to President Nicolas Maduro’s barmy economic policies. And the drop in value of heavy-oil assets like Citgo owns makes it a bad time to sell.

Aug 12, 2014 18:34 UTC

Aussie bid battle questions wine’s standalone case

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By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Wine may age better in the cellar than on the stock market. A bid battle for Australia’s Treasury Wine Estates – the only big listed producer – has called into question the case for standalone wine companies. The maker of Penfolds could be better-managed but a fragmented market and low brand loyalty also suggests the fruit of the vine may not be suitable for public company treatment.

Aug 12, 2014 07:00 UTC

Aircraft leasing flies back into vogue in Asia

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Aircraft leasing is flying back into vogue in Asia. Many Western groups jettisoned the business of buying and renting out planes after the financial crisis. Now China’s sovereign wealth fund and tycoon Li Ka-shing are considering climbing on board. Strong forecast demand for aircraft explains the appeal – as long as finance is cheap and reliable.