Consolidation in the Canadian Energy Sector Continues: Pembina to Acquire Veresen for C$9.7bn

Pembina Pipeline Corp (NYSE:PBA) – market cap as of 05/05/2017: $17.38bn Veresen Inc. (TSE:VSN) – market cap as of 05/05/2017: C$5.81bn ($4.26bn) Introduction On May 1, 2017, Pembina Pipeline Corp. announced that it had agreed to buy smaller rival Veresen Inc. for about C$9.7bn, either paid through stock or cash, creating one of Canada’s largest […]

The Evolution of China’s Energy Landscape: BP’s $1.68bn Divestment from SECCO to Sinopec

BP P.L.C. (BP:LSE) – market cap as of 05/05/2017: £88.41bn ($114.33bn) China Petroleum & Chemical Corp (0386:SEHK) – market cap as of 05/05/2017: HK$762.30bn ($97.93bn) Introduction On April 27, 2017, it was announced that BP had agreed to sell its 50% stake in the Chinese SECCO Petrochemical Company Limited (SECCO) to Gaoqiao Petrochemical Co Ltd, […]

Here Comes Number Twelve: C. R. Bard Joins Becton Dickinson’s Relentless String of Acquisitions for $25.7bn

Becton Dickinson and Company Inc. (NYSE: BDX) – market cap as of 05/05/2017: $39.78bn R. Bard Inc. (NYSE: BCR) – market cap as of 05/05/2017: $22.31bn Introduction On April 23, 2017, it was announced that Becton Dickinson had entered into a definitive agreement to acquire C. R. Bard – one of its main competitors – […]

Market Recap 07-05-2017

United States The S&P 500 closed the week at $2,399.29, a record high and up 0.63% when compared with the close of the previous week. During the week several important announcements have been released; first of all the Federal Reserve decided to leave interest rate unchanged at 0.75%-1.00% following the slowdown in growth experienced by […]

Euribor and Transactions: The Time Has Yet To Come

Introduction This article throws light on an important decision about Euribor that came out this week on May 4th. The decision refers to the conclusion of the pre-live exercise that was carried out to determine the change in method of calculation of Euribor. We will proceed in the following way: first, we will explain what […]

A Markowitz Walk Down Crypto-land: Modern Assets for Modern Portfolios

Introduction The purpose of this article is to apply the mathematical framework of Modern Portfolio Theory to an unconventional asset class. Cryptocurrencies, Bitcoin included, are a novel and little known asset class with a relatively low market cap of $44 billion and very high volatility. By applying Markowitz’s Portfolio Theory we intend to take advantage […]