Oct. 8, 2014, 10:30 AM
- With any hope of Glencore (OTCPK:GLCNF, OTCPK:GLNCY) buying Rio Tinto (NYSE:RIO) on hold for six months, Glencore could turn to other targets such as Fortescue Metals (OTCPK:FSUMF) or Rio could pursue a defensive deal with a company such as Anglo American (OTCPK:AAUKF, OTCPK:AAUKY), Sanford Bernstein analyst Paul Gait speculates.
- In the past, “we have had that kind of one action precipitate a whole cascade of events that puts a number of other guys in play," Gait tells Bloomberg.
- On the other hand, Glencore's pursuit of Rio may not be over, Gait says, adding "the industrial logic and the strategic logic are compelling to the point of being overwhelming."
Sep. 3, 2014, 12:55 PM
- Glencore (OTCPK:GLCNF, OTCPK:GLNCY) CEO Ivan Glasenberg rejects speculation about a possible takeover of Anglo American (OTCPK:AAUKF, OTCPK:AAUKY), saying the miner is interested only in assets it already trades.
- “With Anglo, we don’t trade diamonds... and we don’t trade platinum,” Glasenberg says.
- A Jefferies analyst wrote yesterday that a Glencore bid for Anglo is increasingly possible as the stock widens its outperformance over its smaller rival, and Anglo CEO Mark Cutifani told WSJ yesterday his company is open to takeover offers.
Jul. 21, 2014, 4:36 AM
- Anglo American's (OTCPK:AAUKY) subsidiary, Amplats, is planning to sell its Union mine, Rustenburg operations and a joint venture in South Africa.
- The move will reduce the miner's staff count by 20k, and follows a continuous five-month strike against the company by the AMCU union.
- The mine is expected to be sold to Sibanye Gold (NYSE:SBGL), whose CEO Neal Froneman announced a wish for a platinum deal before the end of the year.
- ETFs: PPLT, PTM, PLTM, PGM
Jul. 7, 2014, 7:42 AM
- Anglo American (AAUKF, AAUKY) says it will sell its 50% stake in a U.K. construction materials joint venture to its partner Lafarge (LFRGY) for a minimum £885M (~$1.5B).
- The sale is subject to the successful completion of the $50B merger between cement giants Lafarge and Holcim (HCMLY), which released a list of operations around the world that both plan to sell in order to win regulatory approval for their proposed combination.
Jan. 24, 2013, 10:34 AM
Commodity prices are rebounding, but don’t expect megadeals in mining as a new crop of CEOs takes over, WSJ reports. At least 20 mining CEOs have stepped down in the past year, some related to unsuccessful acquisitions, and big deals are unlikely when many CEOs are new to their roles. "There will be M&A but it is likely to be very strategic, brownfield-related and very carefully thought through.”| Jan. 24, 2013, 10:34 AM | 2 Comments
Dec. 6, 2012, 9:18 AM
Investors seem to take seriously the latest takeover chatter surrounding Walter Energy (WLT), sending shares +7.5% premarket as vague rumors circulate that bidders could emerge. BHP Billiton (BHP) is said to be interested again; Glencore (GLCNF.PK) could be another candidate; Anglo American has been mentioned in the past. Other coal names are up: ANR +1.9%, CNX +1.6%, ACI +1.3%, BTU +0.8%.| Dec. 6, 2012, 9:18 AM | 5 Comments
Nov. 2, 2012, 11:44 AMGlencore (GLCNF.PK) is among a group of suitors considering an offer for Anglo American's majority stake in the Amapa iron ore operation in Brazil, Reuters reports. Anglo bought control of Amapa in 2008 as part of its $5.5B Minas Rio acquisition, but it deemed the asset non-core last year. Glencore has ambitions to grow in iron ore, a key steelmaking ingredient in which it is not a major player. | Nov. 2, 2012, 11:44 AM
Sep. 4, 2012, 9:58 AMBHP's slowing of its project development cycle will make it more difficult for aspiring iron ore producers to raise financing, likely leaving cash-strapped smaller companies vulnerable to takeovers, Ernst & Young's Mike Elliott speculates. Miners such as CLF, TCK or AAUKY.PK that could cut costs by sharing infrastructure to get their material from pit to port could be the most logical candidates. | Sep. 4, 2012, 9:58 AM
Aug. 31, 2012, 5:54 PMSomething else for Xstrata (XSRAY.PK) shareholders to consider when voting next week whether to accept Glencore's (GLCNF.PK) takeover offer: the highest employee fatality rate among its closest peers. Glencore disclosed 36 employee fatalities in the past two years, four times more than Xstrata; death rates also far exceeded those at BHP, RIO and AAUKY.PK. | Aug. 31, 2012, 5:54 PM
May 29, 2012, 12:55 PM
Impala Platinum's (IMPUY.PK) CEO says his company will watch Anglo American's (AAUKY.PK +2.1%) platinum review and would be prepared to scoop up any assets if they fit within its portfolio and generate value for shareholders. Anglo American launched a review earlier this year to extract more profitability from its platinum operations against a backdrop of rising costs.| May 29, 2012, 12:55 PM
Dec. 19, 2011, 8:35 AM
Nov. 10, 2011, 2:14 PM
Chilean state copper producer Codelco says it has an option for 49% of Anglo American's (AAUKY.PK) Sur mining property, not just over the portion Anglo still holds after selling a 24.5% stake to Mitsubishi (MSBHY.PK), and will take legal measures to defend it. "We're not interested in how the other 51% is held... but Anglo can't sell our 49% to anyone," Codelco's Gerardo Jofre says.| Nov. 10, 2011, 2:14 PM
Nov. 10, 2011, 4:30 AM
Mitsubishi (MSBHY.PK) pays $5.39B for a 24.5% stake in Anglo American's (AAUKY.PK) Chilean copper unit. The deal is Japan's largest ever mining acquisition and will almost double Mitsubishi's copper output at time when global demand is expected to increase over 40% by 2020. (PR)| Nov. 10, 2011, 4:30 AM
Oct. 13, 2011, 10:17 AMWhile other coal miners are selling off, Walter Energy (WLT +3.5%) is gaining following a column from The Independent claiming BHP Billiton (BHP) or Anglo American (AAUKY.PK) might make a bid for the company. However, many are skeptical, noting Walter denied similar rumors in September. | Oct. 13, 2011, 10:17 AM
Sep. 8, 2011, 3:10 AM
Sep. 5, 2011, 6:37 AM
Rio Tinto (RIO) and Anglo American (AAUKY.PK) plan to sell their stakes in South African copper miner Palabora Mining (PBOAF.PK), as it is "no longer of sufficient scale." Rio owns about 58% and Anglo almost 17%, with the combined holdings worth about $720M. (Rio PR, Anglo PR)| Sep. 5, 2011, 6:37 AM