Jacques Nasser, chairman-elect of BHP Billiton Ltd., will begin his job next year at the world’s biggest mining company with a potential $40 billion war chest and a message from investors to be wary of mega acquisitions.
“M&A deals go wrong when people try to make a name for themselves in history, so I just hope that’s what they don’t do,” said Prasad Patkar, who helps manage $1.6 billion at Platypus Asset Management in Sydney, including BHP. “As long as egos aren’t driving decisions and economics are driving decisions, then everything will be fine.”
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