BHP bid to hit investor vote hurdle August 24, 2010 BHP BILLITON will be forced to put its hostile bid for PotashCorp to a shareholder vote if it increases its original $40bn (£25.5bn) offer in order to win over the Canadian company’s investors. According to Financial Services Authority rules, BHP will have to put its proposed takeover of PotashCorp in the hands of its own [...]
Banks and miners suffer after MPC’s Weale warns of fresh dip August 24, 2010 BRITAIN’S top share index closed lower yesterday after weak US existing home sales data cast further doubt on the economic recovery story, with UK banks, miners and energy stocks bearing the brunt of the sell-off. The FTSE 100 ended down 78.89 points, or 1.5 per cent, at 5,155.95, its lowest close since 20 July, having [...]
Strong profits set to boost BHP’s bid case August 24, 2010 MINER BHP Billiton is today expected to reveal robust full-year earnings, strengthening its case as it embarks upon a charm offensive across the globe to try and convince investors of the merits of its $39bn (£25.2bn) hostile bid for Canada’s PotashCorp. Analysts expect BHP to deliver underlying earnings before interest and tax (Ebit) of $20.1bn, [...]
Feisty, fun, and a little confused August 24, 2010 THE Mazda3 MPS was once the most powerful front-wheel-drive hot hatch you could buy, an accolade that now belongs to Ford’s Focus RS. Even so, it’s quite possible you may not even be aware of its existence because the model before this one was so understated there was literally nothing about the way it looked [...]
POTASH IN TALKS TO BLOCK BHP BID August 23, 2010 CANADIAN fertiliser producer PotashCorp is courting a range of potential “white knight” partners in a determined attempt to see off a $40bn (£25.5bn) hostile bid from mining giant BHP Billiton, the company confirmed yesterday. The world’s largest potash producer said it had been approached by and had initiated contact with a number of third parties, [...]
PotashCorp hunts for a white knight August 23, 2010 THIS is shaping up to be a classic takeover wrangle. First came the unsolicited bid – at $39.6bn (£25.5bn), BHP Billiton’s offer is a 20 per cent premium to PotashCorp’s undisturbed share price – which was immediately knocked back. Then came the anguished rhetoric from PotashCorp about the “grossly inadequate” level of BHP’s approach. The [...]
TRADERS SEX UP THE DULL WORLD OF FOREX August 23, 2010 THE THINGS that bored traders get up to when they get a minute, eh? The Capitalist chances upon an, err, enterprising website set up by a pair of forex traders, who claim to have cracked the conundrum of how to dispense a barrage of information to their peers while simultaneously holding their interest – by [...]
TRADERS SEX UP THE DULL WORLD OF FOREX August 23, 2010 THE THINGS that bored traders get up to when they get a minute, eh? The Capitalist chances upon an, err, enterprising website set up by a pair of forex traders, who claim to have cracked the conundrum of how to dispense a barrage of information to their peers while simultaneously holding their interest – by [...]
THE TIPSTER August 23, 2010 POLITICAL turmoil and the prospect of a hung parliament pushed the Australian dollar to its lowest level in more than a month against the greenback yesterday. Independent MPs have now become the kingmakers and the uncertainty as to whether they will lean more towards the Conservatives or Labour has weakened the Aussie dollar. Will the [...]
M&A activity saves FTSE from fourth day of losses but volumes remain thin August 23, 2010 BRITAIN’S leading share index ended a three-session losing run yesterday, helped by a spate of corporate takeover activity, though trading was thin. HSBC said it was in talks to buy up to 70 per cent in South Africa’s fourth-largest bank, Nedbank, in which insurer Old Mutual has a controlling stake. HSBC added 0.8 per cent [...]