Bumi Plc, at the center of a dispute over control involving founders Nathaniel Rothschild and the Bakries, said the Indonesian family are sticking to terms of a proposal valued at more than $580 million to exit the group.
Nathaniel Rothschild, scion of a centuries-old banking dynasty, said he may seek to remove the board of the coal venture he founded with Indonesia’s Bakrie family in the coming weeks because it has failed shareholders.
Nathaniel Rothschild, whose ancestor helped bankroll Britain’s war against Napoleonic France, is studying a $1.2 billion offer for the assets of Bumi Plc from one of his co-founders of the Indonesian coal venture, after the stock slumped about 75 percent in two years.
Xstrata Plc , the world’s fourth- largest copper producer, approved investment of $1.47 billion to develop the Antapaccay copper mine in Peru as the company seeks to increase its production of the metal by 50 percent.
When the U.S. Centers for Medicare and Medicaid Services needed help managing a telephone hotline last year, it didn’t open up competitive bidding for the work. The $929 million contract, one of the agency’s biggest, was instead given to a company that’s done the job since 2002.