South African stocks that do business in emerging markets, including BHP Billiton Plc and Kumba Iron Ore Ltd. , will rise 10 percent to 15 percent annually over the next three years, Sasfin Holdings Ltd. said.
Bidvest Group Ltd. and Northam Platinum Ltd. are among at least 10 South African companies that could be acquisition targets for foreign bidders seeking growth opportunities in the wake of $15 billion worth of deals announced since July by Wal-Mart Stores Inc. , HSBC Holdings Plc and Nippon Telegraph & Telephone Corp.
U.S. companies could encounter higher borrowing costs under a congressional tax plan that would reverse a 29-year-old policy making it easier for other countries’ residents to invest in U.S. corporate debt.
Dentons LLP advised Molex Inc., a maker of electronic components for products such as Apple Inc.’s iPhone, which agreed to a $7.2 billion acquisition by Koch Industries Inc., the holding company controlled by the billionaire Koch brothers. Latham & Watkins LLP represented Wichita, Kansas-based Koch.
South Africa’s broadest stocks index fell to a seven-week low as protesters in Egypt tried to topple President Hosni Mubarak , causing Moody’s Investors Service to lower the nation’s rating and curbing demand for riskier assets.
As Wal-Mart Stores Inc. plotted an Africa strategy, buying Massmart Holdings Ltd. two years ago was just the right vehicle. With 377 stores across the continent and a strong position in South Africa, Massmart offered the Americans a firm foothold in a fast-growing region.