Joanna Wnuk
Can't-miss stories from the web
Natural gas acquisitions are increasingly being favoured over oil sands deals due to lower costs and the opportunity to supply energy-hungry Asian markets.
According to Bloomberg, three of the five largest energy acquisitions announced by foreign buyers in Canada this year – valued at a combined $9.8-billion – were for natural gas assets, a trend that is expected to continue.
Petrobank Energy in friendly deal with PetroBakken
Petrobank Energy & Resources Ltd. is launching a corporate reorganization aimed at streamlining activities and boosting shareholder value. The Calgary-based company says it plans to distribute its 57-per-cent interest in subsidiary PetroBakken Energy ltd. to its shareholders, followed by the creation of two new companies: New Petrobank and New PetroBakken.
Hedge funds betting on palladium
Investors looking to profit from a palladium bull market through exchange traded products were bitterly disappointed this year when the metal turned out to be the worst performing asset in its class.
As they dump their holdings, hedge funds are piling in, spurred in part by analyst's predictions of a decade-high price for the metal.
Bayer buys Schiff
Bayer AG bolstered its U.S. consumer-health operations on Tuesday with the acquisition of vitamins maker Schiff Nutrition Inc. for about $1.2-billion.