Daily News: March 4, 2015

Oil Drop Seen to Spur $450 Billion M&A Spree

Bloomberg reported oil and gas companies will spend about $450 billion buying each other this year as lower valuations caused by a drop in crude prices stimulate mergers and acquisitions, according to consultants A.T. Kearney.

According to Bloomberg , the value of transactions in the oil and gas industry will probably rise by $10 billion from last year when deals totaled $440 billion, said Richard Forrest, A.T. Kearney’s lead partner for energy.

To read the entire Bloomberg article, click here.