Posted by: youngragingbull | January 25, 2013

M&As in oil industry hit record $402B in 2012: E&Y

Global oil and gas mergers and acquisitions tallied up a record $402 billion in 2012, consultant Ernst & Young said in a report released Thursday.

That compares to $337 billion in the previous year, and surpassed the previous record of $393 billion in 2010.

Deals have also become larger, with 92 transactions exceeding $1 billion, compared to 71 deals exceeding that value in 2011, Ernst & Young said. Four oil and gas transactions exceeded $10 billion, compared with just two in 2011.

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