Norsk Hydro's Takeover of Saga Petroleum in 1999 - Innhold

• 1. INTRODUCTION
• 2. THE CONCEPTUAL FRAMEWORK
• 2.1. Shareholder value and its creation
• 2.1.1. Size
• 2.1.2. State ownership
• 2.1.3. Value creation in mergers and acquisitions (M&A)
• 3. THE ACTORS
• 3.1. Saga
• 3.1.1. A heavy historical burden
• 3.1.2. Schnitler’s first months
• 3.1.3. The choices
• 3.1.4. Geographic/international partnerships
• 3.1.5. Merger of equals
• 3.1.6. A minority position: RWE
• 3.1.7. An industrial alliance: the Shell option
• 3.1.8. Towards the end game
• 3.1.9. The Elf option
• 3.2. Hydro
• 3.3. Statoil
• Statoil and Hydro’s relations to the media
• 3.4. The government
• 3.4.1. The undermining of the “status quo”
• 3.4.2. Government options
• 3.4.3. The opposition
• 4. TWO KEY ISSUES
• 4.1. Corporate governance and the primacy of the shareholder
• 4.2. The formulation of Norwegian petroleum policies
• 5. CONCLUDING REMARKS

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