$3 billion takeover bid

Big news: Arrow Energy, a modest foreign producer, received a $3 billion takeover bid yesterday.

Arrow is in the Australian natural gas business. The bidders: Royal Dutch Shell and state-owned PetroChina have teamed up for the buyout. Royal, one of the biggest companies in the world, wants the bottomless bank account and political swagger of the world’s most powerful government — that’s China.

And the Chinese, as evidenced by their failed deals with Rio Tinto and Woodside Petroleum, want access to Aussie resources — badly. Those two failed ventures — both with a fair share of controversy — explain the collaboration with Shell. Lord knows China doesn’t need the money.

Heh: America can still export something. Citigroup was the main financial adviser.

• Subscribe to this RSS Feed

• • Markets Won’t Recover for Decades!

• Ask Your Question

• • Click here to ask a question: Send your questions and I will post it in the blog

• Blog's Home Page

• • Blog's Home Page

• InvestorRules Homepage

• • InvestorRules.com Home Page

• Twitter Account

• • InvestorRules Twitter account Follow us on Twitter

• Monthly Archives

• • November 2010 (2)
  • October 2010 (1)
  • September 2010 (2)
  • August 2010 (7)
  • July 2010 (7)
  • June 2010 (29)
  • May 2010 (39)
  • April 2010 (34)
  • March 2010 (49)
  • February 2010 (53)
  • January 2010 (14)
  • December 2009 (45)
  • November 2009 (11)
  • October 2009 (6)
  • September 2009 (36)
  • August 2009 (39)
  • July 2009 (11)
  • January 2009 (5)
  • December 2008 (5)
  • October 2008 (2)
  • September 2008 (1)