19 result(s) displayed (1 - 19 of 19):
Things are abuzz around potash, a key crop nutrient. Potash Corp. of Saskatchewan Inc., which is the largest producer of the stuff in the world, may be the target of a Chinese investor or another foreigner such as mining giant BHP Billiton Ltd. (NYSE:BHP), which assumed control of Anglo...
Posted on September 4, 2009 12:05 PM
Did someone say mining deals are heating up again? China's voracious appetite should help things along -- "The Chinese don't have enough nickel, don't have enough oil, and they don't have enough copper," Jim Rogers, chairman of Rogers Holdings, told Bloomberg News.Perhaps the cash-rich country will bid on some Australian...
Posted on August 14, 2009 12:49 PM
BHP Billiton Ltd. (NYSE:BHP) said Jac Nasser will succeed Don Argus as chairman when Argus retires in early 2010. Nasser, known for leading big acquisitions as soon as he took the reins at Ford Motor Co. (NYSE:F), comes in as BHP may be keen on more acquisitions since the global...
Posted on August 4, 2009 12:05 PM
The Deal Pipeline (subscription required) shows investors signed up to buy 96.97% of new Rio Tinto Group stock, worth about £7.1 billion ($11.7 billion). Though this helps quite a bit with its massive debt burden -- mostly incurred from its $38 billion acquisition of aluminum company Alcan in 2007...
Posted on July 2, 2009 8:44 AM
Rio Tinto plc (NYSE:RTP) terminated its $19.5 billion deal with Aluminum Corp. of China, opting for a 50-50 joint venture with BHP Billiton Ltd. (NYSE:BHP), its one-time suitor, and a $15.2 billion rights issue. The Chinalco deal ran into trouble when politicians, among others, worried about China having too much...
Posted on June 4, 2009 11:04 PM
Aluminum maker Alcoa Inc. (NYSE:AA) announced 13,500 job cuts and other restructuring measures in January. As part of a noncore sale of four business units, the Pittsburgh/New York company sold its 17,500-employee wire harness and electrical distribution business to Platinum Equity LLC for an undisclosed amount. The wire harness...
Posted on May 1, 2009 8:09 AM
There will be no government assistance for Russia's biggest mining and metal businesses or their deeply indebted oligarch owners.That was the clear message from the Kremlin this week after it scotched plans to absorb billions of dollars of debt to clear the way for the merger of two of...
Posted on February 27, 2009 12:45 PM
China may use its latest acquisition in Australia as a vehicle to acquire even more companies -- provided it goes through, that is. Days after debt-laden Rio Tinto plc agreed to a stock and asset sale worth $19.5 billion to its biggest customer, Aluminum Corp. of China, or Chinalco, Melbourne-based...
Posted on February 23, 2009 1:57 PM
It doesn't take an economics major to tell you buyers have an interest in keeping prices as low as possible.It is a point that Rio Tinto plc appears to have lost sight of as it reportedly prepares to invite one of its biggest customers, Aluminum Corp. of China, to...
Posted on February 11, 2009 8:55 AM
Weakening global demand for commodities -- especially from China -- is pounding the once-booming mining industry. BHP Billiton Ltd. CEO Marius Kloppers may consider himself lucky in not winning a hostile bid for rival Rio Tinto plc, but he hasn't completely avoided the market's sting.BHP said Wednesday that a $3.7...
Posted on January 21, 2009 12:17 PM
Should mining giant Rio Tinto plc have taken on a massive debt load to acquire Canadian aluminum producer Alcan for $38.1 billion in 2007? Should it have accepted a subsequent takeover bid from BHP Billiton Ltd. -- worth $147 billion at one point but only $66 billion in November when...
Posted on January 14, 2009 3:16 PM
Mining giant Rio Tinto plc of Australia is the poster boy for the mining sector's highs and lows. Global demand for steel was at an all time high, making Rio's iron ore (a key component in steelmaking) a hot commodity. That's why the firm spent $38.1 billion to acquire...
Posted on December 10, 2008 10:07 AM
Rio Tinto plc may sell its stake in a China joint venture as it fights devastating commodity prices and towering debt. Reuters quotes unnamed sources at Rio's JV partner Qingtongxia Aluminum as saying a sale may be near as state-owned Qingtangxio consolidates its operations in advance of a takeover by...
Posted on December 8, 2008 11:00 AM
Okay, get out your global mining-deal scorecards.The treasurer of Australia, Wayne Swan, just ruled that Aluminum Corp. of China Ltd. can increase its stake in London listed Rio Tinto plc up to 14.99%. Chinalco paid $14.1 billion for a 9% stake in February. Swan gets to rule on the matter...
Posted on August 25, 2008 10:36 AM
In an interview in Tuesday's Times of London, BHP Billiton Ltd. CEO Marius Kloppers predicts more megadeals in natural resources. The reason: companies like his will find mergers the only way to cope with falling production volumes in a world where easily exploitable assets in various sectors -- oil, gas,...
Posted on August 19, 2008 1:20 PM
If you're finding it hard to keep up with the frenzy in mining M&A, there's a reason. As Dealogic pointed out on Wednesday, mining M&A has more than doubled from the same period last year -- from $56.8 billion to $142.5 billion -- pushed along by such moves as Xstrata...
Posted on August 8, 2008 12:06 PM
Up and down the steel value chain, the deals continue. Today's example: Cleveland-Cliffs Inc., the largest producer of iron-ore pellets in North America, will acquire coal miner Alpha Natural Resources Inc. for $10 billion in stock and cash. The strategic rationale is that the enhanced size and scale of the firm will help meet the growing needs of world steel producers....
Posted on July 16, 2008 10:31 AM
While the world laments the death of M&A given the credit crunch, financial institutions crumbling and the gyrating stock market, oil and gas, power and mining deals are thriving. According to three separate reports over the past month by PricewaterhouseCoopers, M&A value levels were up .3% in the oil and...
Posted on April 2, 2008 2:51 PM
Financing for giant leveraged buyouts is nonexistent. Junk bond spreads are widening and, as the WSJ points out Wednesday morning, leveraged loans from past buyouts are trading at a deep discount. And here comes...
Posted on February 6, 2008 10:47 AM
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Juergen Lasowski
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