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Total (TOT +0.3%) could have as much as $10B available for M&A, but BAML thinks the French...

Total (TOT +0.3%) could have as much as $10B available for M&A, but BAML thinks the French oil giant should be wary of looking at Australia after a rush of 10 deals Down Under since 2006 has generated disappointing returns from its liquefied natural gas projects. The most logical M&A areas for TOT would be Mozambique and perhaps liquids-rich U.S. unconventional plays.
Comments (1)
  • Uncle Pie
    , contributor
    Comments (2713) | Send Message
     
    M&A would be a lot pricer than the current valuation on Total's shares. They ought to buy back their own shares. If asset prices fall, or Total shares rise, revisit the situation.
    10 Dec 2012, 12:38 PM Reply Like
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