Deals wrap: BP’s Rosneft deal on the rocks?

April 12, 2011

BP/The planned $18 billion deal between BP and Rosneft was left even more uncertain after its chief backer Igor Sechin stepped down as Rosneft’s chairman. Sechin, who is also Russia’s deputy prime minster quit after President Dmitry Medvedev ordered the removal of ministers from the board of state companies. BP’s tie-up with Rosneft is already blocked by a court injunction secured by the company’s Russian partners in its TNK-BP venture.

HP held talks with software company Tibco about a possible acquisition until about two weeks ago, according to sources familiar with the matter. The talks come as new CEO Leo Apotheker is expected to revitalize the company’s software division via acquisitions, which only accounts for 3 percent of its revenue. It is not clear if the talks will resume.

Drugmaker Exelixis Inc has hired Goldman Sachs to prepare for possible takeover offers after a successful trial of its experimental drug to help prostate cancer patients. Sources have told Bloomberg some large pharmaceutical companies have shown interest in Exelixis.

Nasdaq OMX Group and rival Deutsche Boerse are both vying for the support from major NYSE Euronext shareholders as both exchanges battle it out. Despite Euronext’s rejection of Nasdaq’s bid this week in favor of the lower offer from Deutsche Boerse, they are not giving up and are continuing to work behind the scenes to persuade NYSE shareholders.

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see