If you thought a deal worth $39bn would satisfy even the most acquisition-happy chief exec, you’d probably be wrong in the case of Marius Kloppers.
BHP Billiton’s chief exec is thought to be looking at a major oil and gas acquisition while at the same time working on the multi-billion deal to buy Canada’s Potash Corp, according to a story in The Australian on Thursday.
The paper quotes an unnamed “senior figure in the global energy industry” who is “convinced” that Anadarko Petroleum Corp is on BHP’s radar.
The company, with a market capitalisation of $25bn, is an appealing but tricky acquisition target. On the one hand it’s shares have seriously suffered since BP’s Macondo well explosion (Anadarko has a 25 per stake in the project) resulting in a more attractive valuation. But, also due to the Macondo disaster, it is now facing an estimated fine of up to $2bn.