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A $100 million haircut for the buyout crowd

It’s rare to see a deal suffering a price cut after it’s been signed – even rarer when there’s a big equity fundraising on the side. Last week, private equity firm Advent International Plc agreed a maximum 17 percent snip to the price of Mondo Minerals BV, the Dutch talc producer it agreed to sell to British chemicals group Elementis ...

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Why China’s fracking hopes may hit the rocks

Could China’s oil and gas industry be on the brink of a revolution? That’s one interpretation of the government’s shakeup of regulations on petroleum production this month. The introduction of drill-it-or-lose-it rules and a possible extension of subsidies for unconventional gas output could end up dismembering sprawling industry leader PetroChina Co. and creating a new sector of independent upstream producers ...

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China’s imperial growth delusion just won’t die

The big state-owned Chinese enterprise is back. But this time, it isn’t looking sturdy enough to prop up the economy. As growth stumbles, Beijing is falling back on a tried and trusted solution: using large, government-backed companies to spur activity. That’s squeezing out private and small firms. The economy certainly merits concern. Trade frictions and Beijing’s crackdown on the underbelly ...

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