Lately, M&A reporting has been going a bit gonzo. This week alone we’ve had a recruitment website claim that Occidental Petroleum was about to buy Apache (denied) and reports on a Spanish-language site that Reckitt Benckiser had outbid P&G in an auction to buy Church & Dwight (also denied). Meanwhile, the more reputed media were running with stories about Bayer bidding for Monsanto (first denied, then confirmed).
This upsurge in bum steers, bogus denials and half-baked tales in obscure places makes FT Alphaville’s RAW warning ever more essential. Please, read the damn warning.