Quick view: Whitehaven in $2.5b deal to create top Oz coal miner

Dec 13 2011, 01:40 IST
Comments 0
SummaryAustraliaís Whitehaven Coal agreed a $2.5 billion takeover of Aston Resources and a local coal explorer on Monday, creating the nationís biggest independent coal miner which could itself become a target for global predators.

Australiaís Whitehaven Coal agreed a $2.5 billion takeover of Aston Resources and a local coal explorer on Monday, creating the nationís biggest independent coal miner which could itself become a target for global predators. The tie-up, designed to tap booming Asian coal demand, is the latest in Australia's hottest deal sector and involves one of the countryís most colourful rags-to-riches mining magnates, former electrician Nathan Tinkler.

Goldman banker to retire from Asia post, says memo

The Goldman Sachs banker and co-head of the firmís Asia investment banking operation for six years is retiring, according to an internal memo obtained on Monday. He is the second senior Asia banker to depart Goldman in the last month. Mark Machin, whose most recent title was Asia-Pacific ex-Japan vice-chairman, is retiring from the firm after 20 years, the memo said. Machin had spent past few years in Beijing, where he was involved with bankís joint venture Gao Hua Securities.

Time Warner offers $1.3b for ĎBig Brotherí maker

Time Warner made a $1.3 billion all-cash offer for Endemol NV as the Dutch producer of Big Brother TV shows seeks to reach an agreement with lenders over reorganising its debt. The revised bid has the same value as Time Warnerís previous offer, Charles Armitstead, a London-based spokesman for Endemol, said. New York-based Time Warnerís earlier offer of about 1 billion euros included debt, people familiar with the matter said last month.

Olympus ex-CEO to meet MPs, push for Japan reform

The whistleblower in a $1.7 billion accounting scandal at Japan's Olympus Corp, ex-CEO Michael Woodford, plans to meet ruling party lawmakers in Tokyo as he lobbies for reforms to Japanese boardrooms, source said on Monday. Woodford, an Englishman who was sacked as chief executive by the firmís board two months ago, will arrive on Tuesday on a mission to persuade employees and investors that he is the right person to return to his old job and get the firm back on track.

Boost in Saudi oil output to revive global economy

The International Energy Agency (IEA) said a boost in Saudi oil output would provide relief from the threat that high fuel prices pose to efforts to revive the global economy. The IEA had warned that Brent prices over $100 a barrel are a threat to the global economy. Brent traded above $108 a barrel on Monday and has averaged over $111 for the year.

To keep standing up to Congress on

Single Page Format
Ads by Google

More from International

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...