ICBidwatch: Rio gains a friend.
Investors Chronicle - magazine and web content, February, 2008
Plus all the news on Mitchells and Butler, and Northern Rock Jonas Crosland
The battle for Rio Tinto, which had looked set to fizzle out, has instead taken a dramatic turn with the news that US aluminium producer Alcoa has teamed up with Chinalco of China to buy a 12 per cent stake in Rio. The move was made through Singapore-based entity Shining Prospect, which is wholly owned by Chinalco and into which Alcoa has committed $1.2bn by way of a convertible instrument. The real shocker is that the consortium is reputed to have paid GBP60 a share, which is a whopping 21 per cent premium on Rio's closing price the day before of GBP49.56.
For now, Shining Prospect has ruled out making a full-blown bid but has indicated that it could increase its stake....
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
