RSS feedcvrd
’Xstrata/CVRD (aka Vale) update
With Xstrata stock up 9 per cent in London, the fog floating across the entire London-listed mining sector on Thursday began to clear.
It is now widely accepted that on Wednesday, while explaining the bolt-on acquisition of Australian coal group Resource Pacific,
Mick does the Samba? Xstrata’s suitor is said to be CVRD
Not much else to say, really, other than stating that usually knowledgeable sources indicate that Lehman Brothers are advising the Brazilians, while JPMorgan Cazenove are working for Mick Davis.
Oh,
Alcan and Rio Tinto in friendly talks
Alcan and Rio Tinto were on Wednesday night in the final stages of negotiating a friendly deal worth more than $30bn for the Canadian metals group to be taken over by its London-listed rival. An announcement could come in the next few days,
CDS report: Credit holds firm after Treasuries, stocks decline
European credit derivatives markets held firm this morning in spite of faltering stock markets and an overnight sell off in US Treasuries.
This showed that credit had decoupled from equities – as it should in the continuing benign environment for debt issues,
Iron ore dispute casts doubt on CSN bid for Corus
The bid by CSN to acquire the Anglo-Dutch group Corus for £5.7bn could be blown off course by a legal dispute in Brazil. The dispute, over CSN’s rights to an iron-ore supply that would be crucial to a merged business,