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Apr 8, 2015
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Royal Dutch Shell and BG open mega-deal pipeline

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Additional reporting and writing by Fiona Maharg-Bravo. The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

Royal Dutch Shell and BG Group may open a mega-deal pipeline. The $200 billion Anglo-Dutch energy colossus is in advanced talks to buy its $46 billion gas rival. It would be an opportunistic move for Shell, whose vulnerable target has a new chief executive. There could yet be additional suitors for BG. Any merger is also bound to kick off other big transactions in the sector.

Apr 8, 2015
via Breakingviews

Royal Dutch Shell and BG open mega-deal pipeline

Photo

Additional reporting and writing by Fiona Maharg-Bravo. The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

Royal Dutch Shell and BG Group may open a mega-deal pipeline. The $200 billion Anglo-Dutch energy colossus is in advanced talks to buy its $46 billion gas rival. It would be an opportunistic move for Shell, whose vulnerable target has a new chief executive. There could yet be additional suitors for BG. Any merger is also bound to kick off other big transactions in the sector.

Mar 27, 2015
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Dow Chemical tempts fate with $5 bln chlorine sale

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

Dow Chemical is tempting fate with its $5 billion chlorine sale. The $54 billion company is offloading the bulk of its low-margin bleach and vinyl-related operations to smaller rival Olin using an esoteric structure known as a reverse Morris Trust. The valuation looks solid, especially considering the tax savings. Yet investors should remain wary given the history of such complex deals.

Mar 27, 2015
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Dow Chemical tempts fate with $5 bln chlorine sale

Photo

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

Dow Chemical is tempting fate with its $5 billion chlorine sale. The $54 billion company is offloading the bulk of its low-margin bleach and vinyl-related operations to smaller rival Olin using an esoteric structure known as a reverse Morris Trust. The valuation looks solid, especially considering the tax savings. Yet investors should remain wary given the history of such complex deals.

Mar 26, 2015
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Buffett-3G juggernaut can keep on truckin’

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

Warren Buffett and 3G Capital have created a fearsome M&A machine. Wednesday’s deal to merge consumer food giants Kraft and H.J. Heinz, worth some $80 billion, marks the boldest collaboration yet between the Sage of Omaha and the investors behind AB InBev, after earlier swoops on Heinz and Tim Hortons. The only barrier to even bigger deals may be 3G’s capacity for new projects.

Mar 26, 2015
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Buffett-3G juggernaut can keep on truckin’

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

Warren Buffett and 3G Capital have created a fearsome M&A machine. Wednesday’s deal to merge consumer food giants Kraft and H.J. Heinz, worth some $80 billion, marks the boldest collaboration yet between the Sage of Omaha and the investors behind AB InBev, after earlier swoops on Heinz and Tim Hortons. The only barrier to even bigger deals may be 3G’s capacity for new projects.

Feb 12, 2015
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Expedia indicates first-class M&A tickets remain

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By Kevin Allison

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

Expedia’s plan to buy Orbitz Worldwide indicates that some first-class M&A tickets remain available. The online travel agent’s shares jumped 16 percent after it said it would pay $1.6 billion, including debt, to absorb its smaller rival. Despite evidence of fewer easy pickings, Expedia shows why the deal boom still has some runway.

Feb 6, 2015
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DuPont drives wedge between shareholders and Peltz

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By Kevin Allison

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

DuPont has driven a wedge between shareholders and Nelson Peltz. Adding two turnaround veterans to the $70 billion chemical giant’s board may make stockholders think twice about voting in a rival slate from the billionaire activist’s Trian Fund Management. DuPont says Peltz nixed an offer to add one of his picks because he wanted the spot. He may just have been outplayed.

Feb 6, 2015
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DuPont drives wedge between shareholders and Peltz

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By Kevin Allison

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

DuPont has driven a wedge between shareholders and Nelson Peltz. Adding two turnaround veterans to the $70 billion chemical giant’s board may make stockholders think twice about voting in a rival slate from the billionaire activist’s Trian Fund Management. DuPont says Peltz nixed an offer to add one of his picks because he wanted the spot. He may just have been outplayed.

Feb 4, 2015
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Smucker deal may keep activists in Kibbles ‘n Bits

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By Kevin Allison

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

J M Smucker’s $5.8 billion purchase of Big Heart Pet Brands may keep investor activists in Kibbles ’n Bits. The $11 billion owner of Folgers coffee, Jif peanut butter and eponymous fruit spreads should gain bargaining power with retailers by bundling human treats with dog food. But the odd combination may elicit a Pavlovian response from uppity shareholders.