China is set to probe BHP’s bid for Potash Corp September 1, 2010 CHINA plans to launch an antimonopoly probe into BHP Billiton’s $39bn (£25.2bn) bid for Canada’s Potash Corp. The probe is another indicator that China, as the world’s biggest importer of fertiliser, is wary of further concentration in the market, following BHP Billiton’s launch of a hostile bid for Potash Corp last month. But it was [...]
China considers probe into BHP Billiton’s bid for Potash Corp September 1, 2010 China may launch an antimonopoly probe into BHP Billiton’s $39bn (£25bn) bid for Canada’s Potash Corp, the China Business News has claimed. China will also review the merger of two Russian potash firms – Uralkali and Silvinit – given the major impact the two deals would have on China, the paper cited the unnamed source [...]
Potash:BHP was unethical August 31, 2010 POTASH said yesterday its suitor BHP Billiton has been “inappropriate and highly unethical” by cold-calling many of its customers while embroiled in a hostile takeover deal. BHP, the Anglo-Australian mining giant, earlier this month launched a $38.6bn (£24.1bn) hostile takeover bid for Potash Corp, the world’s largest fertiliser company. Potash said in a letter to [...]
Jaguar’s new lease of life August 31, 2010 IT might have been disappointing but it came as no surprise that there was no chance for me to test the maximum speed of Jaguar’s fastest XKR yet, even at Goodwood’s race track. Jaguar’s latest optional Speed Pack really turns up the heat. Underneath it’s the usual Jaguar XKR with its 503bhp supercharged V8 but [...]
CAR TALK August 31, 2010 PEUGEOT’S FULL HYBRID DIESEL This is the Peugeot 3008 Hybrid4 Crossover, the first full hybrid diesel production car. With its 2.0 litre diesel engine plus a 37bhp electric motor, the car can achieve up to 74.4mpg while emitting only 99g/km of CO2. When it’s launched in January next year it will run in four modes: [...]
Cross-border bids will affect the FX markets August 31, 2010 DRAGONS and tigers are known for their voracious appetites. China and India, it appears, are no exception – these Asian powerhouses’ demand for raw materials has proved unrelenting despite the subdued global backdrop. The outlook for sustained commodities’ demand has spurred the natural resources sector into action. Mergers and acquisitions (M&A) activity has stepped up [...]
BHP Billiton denies Potash break-up talk August 30, 2010 MINER BHP Billiton insisted yesterday it has no plans to sell off parts of Canadian fertiliser firm Potash, after an errant analyst note sparked a scramble for Potash’s smaller divisions. The mining giant was forced to restate its ambitions after Canadian agriculture firm Agrium told the press it was keen to buy Potash’s phosphate and [...]
Rio to press on with expansion August 30, 2010 MINING group Rio Tinto signalled yesterday it was pushing ahead with its expansion plans in iron ore while it awaits competition authority clearance to form a partnership with rival BHP in Australia. The firm said it had approved $1.6bn (£1.03bn) to expand its Hopes Downs iron ore mine project in Western Australia, with first production [...]
August is an unlikely month for an M&A boom August 30, 2010 WHEN is a bank holiday not a bank holiday? When you are an M&A banker and your business is picking up again after years in the wilderness. They started this year with a big tasty takeover in the form of Kraft’s Cadbury bid, but that was an exception and since then the market for takeovers [...]
RIO TINTO BOSS SHRUGS OFF M&A TALK August 26, 2010 RIO TINTO chief executive Tom Albanese told a conference in Brisbane yesterday the future of the mining industry remains volatile, and that Rio will focus on production growth rather than acquisitions. He has already dismissed the idea of bidding against rival BHP Billiton for fertiliser firm Potash, saying:?“I’m a miner, not a farmer”.