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OCT 24, 2012 11:32 UTC
Kevin Allison
Rosneft buy may leave Russian oil industry wanting
BP | ENERGY | OIL | RUSSIA | UNITED KINGDOM
By Kevin Allison
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Rosneft will become the world’s biggest listed crude producer following its $55 billion swoop on Russia’s third-biggest oil company. Igor Sechin’s new behemoth also expects to generate $3 billion to $5 billion of cost synergies from scooping up its smaller rival. If Rosneft can apply TNK-BP’s oilfield know-how to improve production at its own fields, the cost and revenue benefits of the Russian oil shake-up could indeed climb high.
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OCT 20, 2012 19:46 UTC
Robert Cyran
Is everything sacred in Canada?
CANADA | REGULATION
By Robert Cyran
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Is everything sacred in Canada? At first it was a hole in the ground. Then it was the stock exchange and a DIY chain. This week, regulators blocked two more big deals, including a $5.2 billion bid for Progress Energy by Petronas of Malaysia. Taken as a whole, these actions signal the market for corporate control in Canada – especially when it comes to foreign buyers – is effectively closed.
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OCT 16, 2012 10:11 UTC
Wei Gu
Failed China Gas bid leaves business unfinished
ASIA | CHINA | COMMODITIES | MERGERS AND ACQUISITIONS
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Wei Gu
Sinopec’s failed bid for China Gas leaves business unfinished. The Chinese oil producer had to drop its $2.2 billion offer after failing to secure regulatory approval to buy the gas company. As a state-owned bidder, the political sensitivities were too great, and the price probably too low. Yet China’s fragmented gas industry still needs to consolidate.
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OCT 12, 2012 13:22 UTC
Chris Hughes
BAE needs a new chairman
BAE | CORPORATE GOVERNANCE | DEFENCE | EADS | UNITED KINGDOM
By Chris Hughes
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
BAE Systems needs a new chairman. Dick Olver’s management of the attempt to merge the UK defence group with EADS was poor. He has also presided over a sustained period of share-price underperformance. After eight years on the board, he should make room for fresh talent.
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OCT 12, 2012 08:36 UTC
John Foley
Softbank-Sprint tie-up gets bad signal from market
JAPAN | MERGERS AND ACQUISITIONS | TECHNOLOGY | UNITED STATES
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
By John Foley
Softbank chief executive Masayoshi Son has received a strong signal from investors. They wiped $6.2 billion in value off the Japanese telecoms operator’s market value on Oct. 12 after it confirmed it was in talks with U.S. rival Sprint Nextel. That’s three times more than U.S. investors added to Sprint’s worth the previous day. No wonder: a takeover would be a financial stretch for Softbank, and could preclude other deals closer to home.
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OCT 5, 2012 06:36 UTC
Christopher Swann
Even one-sided Chinese investment has its benefits
AMERICAS | ASIA | CANADA | CHINA | MERGERS AND ACQUISITIONS | POLITICS
By Christopher Swann
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Canada wants equal rights for its companies to pile into China.  The country’s opposition leader says his compatriots would be “chumps” if they allowed state-owned CNOOC to buy Canadian oil group Nexen without China granting equal access to its natural resources. Demands for reciprocity seem only fair. But workers and investors in rich countries gain even if the money flows only one way. It’s the Middle Kingdom that misses out by being less welcoming.
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JUN 19, 2012 10:10 UTC
Chris Hughes
Xstrata shareholders should say no
COMMODITIES | CORPORATE GOVERNANCE | GLENCORE | M&A | MERGERS AND ACQUISITIONS | MINING | XSTRATA
By Chris Hughes
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Xstrata shareholders should vote down the $45 million three-year retention package awarded to Chief Executive Mick Davis to seal the miner’s tie-up with commodity trader Glencore. Sure, the merger would collapse, but that’s a price worth paying.
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JUN 18, 2012 20:41 UTC
Raul Gallegos
World’s new air giant taking off at turbulent time
AIRLINES | BRAZIL | CHILE | M&A | TRANSPORTATION
By Raul Gallegos The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Get ready for the world’s largest airline to take off this week. But don’t look north or east – the globe’s most valuable carrier is set to be South American. Chile’s LAN Airlines is on track to finally consummate its marriage to Brazilian rival TAM this Friday, almost two years after announcing the tie-up. But the promise of greater regional integration has fueled big expectations that economic headwinds will make difficult to meet.
Investors eager to buy into a promising Latin America growth story have pushed TAM shares up by more than a third since the deal hit in August 2010. That values the firm at $3.6 billion – a pricey bump for LAN, whose shares have risen by just 10 percent. But at $12.5 billion the combined airline will be worth almost double Ryanair, 50 percent more than Delta and around 15 percent more than Air China.
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JUN 8, 2012 20:02 UTC
Robert Cyran
Chesapeake gets pistol-whipping from shareholders
CORPORATE GOVERNANCE | ENERGY | M&A | NATURAL GAS | WALL STREET
By Robert Cyran and Christopher Swann
The authors are Reuters Breakingviews columnists. The opinions expressed are their own.
Chesapeake Energy has gotten a pistol-whipping from shareholders. The besieged U.S. gas giant’s owners voted overwhelmingly against directors who were up for re-election and the board’s executive pay plan, while favoring a slew of investor proposals to improve Chesapeake’s governance. It’s hard to see how boss Aubrey McClendon can keep running this circus.
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JUN 6, 2012 10:52 UTC
Una Galani
Qatar play for EFG Hermes stokes backlash in Egypt
BANKS | BIDS | EGYPT | M&A
By Una Galani
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
Qatar’s move on EFG Hermes is provoking a backlash. The Gulf emirate’s play for key assets of the region’s preeminent investment bank has prompted a rival consortium, notably backed by billionaire Naguib Sawiris, to declare an interest in buying it outright. The Qatari deal was approved last week by shareholders, but in the current volatile situation anything can happen.
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FEATURED VIDEO
Breakingviews: Rosneft's Russian roulette
Oct. 24 - Oil is vital to the Russian economy and Rosneft is taking a gamble that it won't stifle competition and its own effectiveness by taking over TNK-BP's oil fields, say Breakingviews.Video
Breakingviews: Parochial international debate
Oct 23 - The final presidential showdown was notable more for sins of omission than commission: Europe, the global financial system, trade and the new Chinese leadership took a backseat to bayonets and the Middle East.Video
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