OPINION

Slugcatcher on oil sector M&A, and why it rarely creates value

SOMETIMES after a merger 1 + 1 can equal 3, but Slugcatcher doubts that will be the case if Santos marries Oil Search and Woodside buys BHP’s oil division with a more likely result of 1 + 1 in those possible deals being 1.5 or 1.75 at best.

Slugcatcher

If that sounds harsh then you haven't followed the history of mergers and acquisitions which reveals a 60% failure rate and the destruction of shareholder funds. BHP's US$12 billion 2011 acquisition...

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