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Why A Valero Bid Could Make Sense For Chesapeake, Hess and Shell

By Ilene
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Courtesy of www.econmatters.com.

By EconMatters

(A Seeking Alpha Exclusive)

Valero Energy Corp. (VLO) shares dived almost 8% on the day to $24.60 after India’s Reliance Industries said it has no plans to buy Valero. Stock price of Valero had surged 22% in 3 days after UK newspaper Daily Mail reported on Wed. Oct. 26 takeover rumors that a bidding war could occur between India’s Reliant Industries, Inc., Royal Dutch Shell, and…. China’s CNOOC. Traders had responded to the speculation by frenzied trading in VLO options.

Even though Reliance is out of the picture, Valero could still be a takeover target given the recent frenetic mega-deals in the energy sector such as Kinder Morgan’s $38 billion acquisition of El Paso and Statoil’s $4.7 billion acquisition of Brigham Exploration….Continue at Seeking Alpha

Please click here to read more articles at EconMatters.

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