Hmm. Let’s see. Last time BHP Billiton made a tilt at a high-profile, big money acquisition, the whole world went pear-shaped. As the statisticians say, correlation is not causation. But M&A activity seems to pick up when company directors have run out of other ways to increase earnings. It does not always work out well for shareholders. Case in point, BHP’s shares are down today by 3.5%. In case you missed it, Marius Klopper’s outfit made a $43 billion bid for Canadian firm Potash.
August 18th, 2010 | Dan Denning | 0 comments | ContinuedAll Posts Tagged With: "population"
Population and Destiny
So land banking is back then? That’s one way of viewing the $1.2 billin bid by Canada’s Agrium for wheat exporter AWB. Agrium is offering a 57% premium to AWB’s share-price before the mooted merger with Grain Corp. Maybe the cashed-up Canadians are taking advantage of a beaten-down share (RSPT and litigation related). But it’s obvious that arable land and food is compelling investment.
August 17th, 2010 | Dan Denning | 1 comment | Continued
The Rise, Fall, and Rise of Disaster
The US Department of Agriculture may have some usefulness. Projecting future prices isn’t one of them. In 2005, it looked five years ahead and saw a bushel of wheat selling for $3.50. Last week, the price rose to more than twice that much. The government banned wheat exports and prices shot up to their highest point in 51 years.
August 16th, 2010 | Bill Bonner | 84 comments | Continued
The World’s Largest Cities
It was a different way to look at Manhattan and its towering skyscrapers as far as the eye can see down any block you choose to look. Somehow, it all seemed a lot bigger in a rickshaw. Hard to believe that within six years, New York will no longer be among the world’s five largest cities.
March 18th, 2009 | Chris Mayer | 5 comments | Continued
