BHP and Rio go to EU for tie-up BHP October 12, 2010 Billiton and Rio Tinto will meet EU antitrust regulators by the end of this month to help the European Commission decide whether to clear their proposed joint venture, sources said yesterday. The Commission is examining the miners’ planned $116bn (£73.54bn) iron ore production joint venture in western Australia to determine whether it is anti-competitive. Rio [...]
Eco-dazzle at Paris Motor Show October 12, 2010 Two key trends revealed themselves at this year’s Paris Motor Show. First, while the carmakers have showed eco concepts for years, this year was the first Paris Show where so many production versions of hybrid and electric cars were launched. Second, the sports and supercar brands proved that they too have a place in this [...]
City sceptical on the prospect of rival offers for PotashCorp October 11, 2010 ANALYSTS yesterday poured scorn on talk of rival white knight offers waiting in the wings to scupper BHP Billiton’s $39bn (£24.5bn) bid for Canadian fertiliser giant PotashCorp. Reports over the weekend suggested both the Ontario Teachers Pension Fund and Chinese state-owned chemicals group Sinochem had already approached Temasek with a view to trying to find [...]
Potash plans break up to avoid BHP bid October 10, 2010 POTASHCORP, the Canadian chemicals giant, is believed to be working on a potential break up of the company as one way of fending off a $38.6bn (£24.1bn) hostile bid from the mining company BHP Billiton. The plan is among several strategies being worked on at Potash – whose advisers include RBC Capital Markets, Goldman Sachs [...]
Money flows for the mining sector October 10, 2010 AS the market waits for the Fed to make up its mind on further quantitative easing, money looks sure to keep pouring out of the dollar and into commodities. This boom, averaging 20 to 30 per cent since July, has significantly boosted the mining sector, which was doing pretty well already thanks to growing emerging [...]
Sinochem offer for Potash Corp is now unlikely October 7, 2010 SINOCHEM, China’s largest fertiliser company, may struggle to get state financial backing for a takeover of Canada’s Potash Corp, making a deal unlikely, it emerged last night. China’s government has indicated it would prefer Sinochem to finance any takeover without credit from state banks, which is likely to put the transaction beyond the company’s reach. [...]
Henry: Self-made millionaire who brought Red Sox glory October 6, 2010 PROSPECTIVE Liverpool owner John W Henry knows what it takes to revive the dwindling fortunes of a world famous sporting name, having done as much with Boston Red Sox. Henry, 61, and his holding company New England Sports Ventures took control of the baseball franchise in 2002 and by 2004 had ended their 84-year wait [...]
Regulators may block Rio venture October 6, 2010 RIO TINTO and BHP Billiton shares gained more than three per cent each yesterday after Rio insisted that its $116bn (£73bn) joint venture plans are not close to collapse. The FTSE 100 firm warned however that competition watchdogs may scupper more than a years’ worth of efforts for a joint iron ore production plant in [...]
Rio Tinto deal with BHP Billiton “all but dead” October 6, 2010 Global miner Rio Tinto looked set to abandon its $116bn (£72bn) iron-ore joint venture with rival BHP Billiton a deal unpopular with customers, regulators and many of Rio Tinto’s own investors. Rio Tinto Chairman Jan du Plessis told a boarsd meeting addressing that the joint venture was all but dead and buried, acording to the [...]
Rio’s deal with BHP on iron ore hits a hurdle October 5, 2010 MINING group Rio Tinto has made no decision on its planned $116bn (£72.9bn) Australian joint venture with BHP Billiton, it said yesterday after claims that the deal could be terminated. “The Rio Tinto board has not made any final decisions about possible outcomes or next steps relating to the proposed Rio Tinto/BHP Billiton iron ore [...]