Dana Petroleum

John Gapper

The summer flurry of mergers and acquisitions now includes a couple of big hostile bids – those by BHP Billiton for PotashCorp of Canada, and by South Korea’s national oil company KNOC for Dana Petroleum of the UK.

Given the patchy record of mergers and acquisitions generally, and the reluctance of many companies to go hostile for fear of upsetting the target company and undermining its value, it raises the question of whether these bids are worthwhile. Read more