Mergers and Acquisitions

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Baker Hughes Nears $13.6 Billion Deal to Buy Chart, Edging Out Flowserve, FT Reports

Energy Topics & Technology, Latest, Mergers and Acquisitions, OFS-Oilfield Services, US News / By

Oil and gas equipment supplier Baker Hughes is nearing a $13.6 billion cash deal to buy Chart Industries, edging out rival suitor Flowserve, the Financial Times reported on Monday, citing sources familiar with the matter.A potential deal would displace an agreement Chart made in June to combine with flow control systems maker Flowserve in a …

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Chevron Tells Hess Staff to Focus on Safety as They Await Job Updates

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Oil, Pinned Primary, US News / By

(Reuters) – Chevron  leaders told Hess employees to stay focused on safe operations and that they will hear next week if they will continue to have jobs following the oil producer’s acquisition, according to two Hess employees who spoke with Reuters. Chevron, the second-largest U.S. oil producer, closed its $55 billion acquisition of Hess on Friday after prevailing …

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SLB’s ChampionX Deal Clears Final Hurdle With UK Approval

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

(Reuters) – Britain’s antitrust watchdog has cleared oilfield services firm SLB’s $8 billion acquisition of ChampionX after accepting commitments to address competition concerns, with the deal set to close on Wednesday. The UK’s Competition and Markets Authority accepted commitments from SLB and ChampionX instead of launching a more detailed Phase 2 investigation, it said on …

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Chevron Preps Quick Closing of Hess Deal and Awaits Result of Exxon Dispute

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

(Reuters) – Chevron is laying the groundwork to swiftly close its planned acquisition of smaller oil producer Hess, according to two sources and an industry analyst, including by preparing a severance program for some Hess workers. The preparations come as both companies await a decision in a legal challenge from larger rival Exxon Mobil that …

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Arbitrators in Exxon, Hess Dispute Over Chevron Deal Have Reached a Decision, Sources Say

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

The arbitrators in a legal dispute between Exxon Mobil and Hess have reached a decision related to a major oilfield project in Guyana, according to two sources familiar with the matter. The ruling will determine whether Chevron can move forward with its $53 billion planned acquisition of Hess. The Paris-based International Chamber of Commerce, which is overseeing …

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Larger Deals Power Global M&A in H1, Bankers Signal Appetite for Megadeals

Conventional Energy, Energy Topics & Technology, Latest, LNG, Mergers and Acquisitions, Natural Gas, Oil, US News / By

Mergers and acquisitions during the first half of this year were not what investment bankers had hoped for, but a burst of big deals in Asia and renewed optimism in U.S. markets could be paving the way for megadeals. Market uncertainties stemming from U.S. President Donald Trump’s trade war, high interest rates and broader geopolitical …

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Here’s Why BP Is Seen as a Potential Takeover Target

CDN and International News, Energy Topics & Technology, Latest, Mergers and Acquisitions / By

By Mitchell Ferman and James Herron It’s been almost 25 years since BP Plc attempted to rebrand itself as “Beyond Petroleum” and adopt a more environmentally friendly image. But with a recent swing away from green energy toward its fossil fuel roots, “Back to Petroleum” might be a more appropriate tag line. The shift comes …

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Devil’s in the Details: Why BP’s Debt May Deter a Buyer

CDN and International News, Energy Topics & Technology, Latest, Mergers and Acquisitions / By

BP has been the subject of takeover talks for several years due to its shares’ relative underperformance, but analysis of its disclosures shows the British energy firm may not be as cheap as its market valuation would indicate. BP says it has net debt of $27 billion – already more than some rivals – but …

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Mitsubishi Corp in Talks for $8 Billion US Shale Acquisition, Source Says

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, Shale, US News / By

June 16 (Reuters) – Mitsubishi Corp (8058.T) is in talks to acquire the U.S. shale production and pipeline assets of Aethon Energy Management for roughly $8 billion, a person familiar with the matter said on Monday. The deal, should it be struck, would give the Japanese conglomerate a substantial natural gas operation adjacent to the …

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Australia’s Santos Receives $18.7 Billion Takeover Bid from ADNOC-Led Consortium

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, Oil / By

Australian oil and gas producer Santos said on Monday it intended to support an $18.7 billion takeover bid from an international consortium led by Abu Dhabi’s National Oil Company (ADNOC). ADNOC, through its investment arm XRG, with Abu Dhabi Development Holding Company (ADQ) and private equity firm Carlyle has offered $5.76 (A$8.89) per Santos share, …

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