AWE Ltd., an explorer with shale fields in Australia and an oil project in Indonesia, rejected a A$752 million ($673 million) initial takeover proposal from Senex Energy Ltd., saying it undervalued its shares.
While OAO Magnitogorsk Iron & Steel’s takeover of Australia’s Flinders Mines Ltd. is seen as the most likely deal in the world to fail, traders can still double their money betting another bidder will buy Flinders.
When Hamish Douglass’s first child was born in 1999, he wrote to Berkshire Hathaway Inc. Chairman Warren Buffett to tell him that he had bought shares of the company to give to his son when he turned 21.
Glencore International Plc and Rio Tinto Group are among miners buying out companies in which they own stakes during the downturn in equity markets. Katanga Mining Ltd. and Extract Resources Ltd. may be the next targets, said Liberum Capital Ltd. and Ord Minnett Ltd.
Acquisitions by China’s gold mining companies reached a record this year as the metal’s steepest quarterly drop in more than nine decades slashes mine values and sidelines Western competitors laden with debt.
Vietnam Dairy Products Joint-Stock Co., the nation’s largest dairy producer, is building a milk factory in Cambodia as it plans a global expansion to more than double annual revenue to $3 billion by 2017.