Oil funds misery may leak into global markets

November 4, 2015

Equity turbulence led to a loss for Norway’s wealth fund. Energy-dependent funds may in turn get their revenge. With oil prices low, governments are tempted to dip into hoarded wealth. And the funds themselves are becoming more apt to diversify away from financial assets.

Giant fertiliser combo looks tough to cultivate

September 23, 2014

Norway’s Yara is talking to U.S. rival CF Industries about a $27 bln tie-up. The two boast similar valuations and could reap sizeable synergies. Hence a near-$1 bln jump in Yara’s market cap. But a merger of equals is one of the trickiest deal varieties.

Sovereign funds still hungry for Western banks

July 19, 2012

Bad early-crisis bets haven’t put rich states off backing global lenders. Qatar and Norway have upped their exposure to Credit Suisse, while Singapore’s Temasek has joined the throng. The enthusiasm reflects a lack of attractive alternatives, as much as hopes for a recovery.

Bayer can pay more for cancer blockbuster partner

November 26, 2013

The German drugmaker has made a preliminary 1.8 bln euro bid for Norwegian partner Algeta. The target’s shares immediately priced in a higher offer. That looks right. A counterbidder is unlikely. But Algeta’s cancer drug has huge potential and Bayer can afford to pay more.

Norway SWF wages lone governance crusade

October 8, 2009

Norway's $420 billion oil fund is rattling the cage of some of the foreign companies in which it has invested. As a shareholder it deserves praise for putting its head above the parapet. But as a sovereign wealth fund it is treading a fine line.