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BHPBill falls as copper fluctuates
According to Business Day, BHP Billiton, the world's biggest mining company, retreated R4.24 or 1.6% to close at R258.61 on Friday, 19 November 2010. Copper prices were fluctuating in London, heading for their biggest weekly drop in two months, on concern that additional tightening measures in China may dampen demand from the world's biggest consumer of metal.
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BHPBill -- transaction in shares
BHP Billiton Limited announces that on 17 November 2010 it purchased 375,000 Ordinary shares of BHP Billiton Plc at an average price of 2 316.04 pence per Ordinary share. The highest price paid was 2 339.00 pence per Ordinary share and the lowest price paid was 2 303.00 pence per Ordinary share. Following purchase, BHP Billiton Limited transferred its interest in the shares to BHP Billiton Plc for nil consideration and cancellation by BHP Billiton Plc. Following the cancellation, the total number of BHP Billiton Plc Ordinary shares in issue (excluding shares held as treasury shares) will be 2 206 032 544. Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com
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BHPBill still wants a big acquisition
According to Business Report, BHPBill's CE, Marius Kloppers, will not let three failed transactions worth more than USD2100 billion prevent further takeover attempts. However, the problem will be finding buyable targets. BHPBill has had two failed deals with Rio Tinto and a third, the acquisition of Potash Corporation, was scuppered by the Canadian government. BHPBill's next targets may be in the energy sector, with UBS singling out Anadarko Petroleum and Woodside Petroleum, as well as US-based coal producer, Drummond.
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BHPBill -- repurchase of shares
BHP Billiton Ltd announces that on 16 November 2010 it purchased 600,000 Ordinary shares of BHPBill at an average price of GBP2 331.58 pence per ordinary share. The highest price paid was GBP2 349.00 pence per ordinary share and the lowest price paid was GBP2 315.00 pence per ordinary share. Following purchase, BHP Billiton Ltd transferred its interest in the shares to BHPBill for nil consideration and cancellation by BHPBill. Following the cancellation, the total number of BHPBill ordinary shares in issue (excluding shares held as treasury shares) will be 2 206 407 544.
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BHPBill -- approves USD570 million
BHP Billiton today announced approval for a further USD635 million (BHP Billiton share USD570 million)(1) of capital expenditure that will underpin continued growth in Western Australia Iron Ore's production profile. The investment highlights BHP Billiton's commitment to the Rapid Growth Project sequence of expansion projects and is consistent with the company's strategy to fully utilise its Port Hedland inner harbour capacity. The investment expands on BHP Billiton's earlier pre-commitment of USD1.73 billion announced in January 2010 and will facilitate the ongoing development of important port, rail and Jimblebar mine infrastructure. Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com
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BHPBill -- annual general meeting
A meeting of shareholders of BHP Billiton Ltd was held in Perth, Australia on 16 November 2010 and BHP Billiton Plc ("Plc") held in London, United Kingdom on 21 October 2010. A copy of the resolutions passed at the closure of the poll has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do
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BHPBill -- annual general meeting announcement
The poll results will be communicated to the market shortly after the conclusion of BHP Billiton Ltd's annual general meeting held in Perth on Tuesday, 16 November 2010.
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BHPBill withdraws offer to acquire Potashcorp
BHP Billiton has determined that the condition of its offer relating to receipt of a net benefit determination by the Minister of Industry under the Investment Canada Act cannot be satisfied, and accordingly, the offer has been withdrawn. A total PotashCorprelated transaction cost of approximately USD350 million, of which approximately USD250 million related to the USD45 billion acquisition financing facility, will be recognised as an exceptional item in the December 2010 interim accounts. BHP Billiton continues to believe its offer would have resulted in a significant net benefit to Canada, Saskatchewan and New Brunswick. As a package, the proposed undertakings offered by BHP Billiton in a signed, written submission to the Minister of Industry were unparalleled in substance, scope and duration, reflecting the importance of potash to Canada and Saskatchewan. The company had offered to commit to legally binding undertakings that would have, among other things, increased employment, guaranteed investment and established the company's global potash headquarters in Saskatoon, Saskatchewan. The investment commitment included USD450 million on exploration and development over the next five years over and above commitments to spending on the Jansen project. An additional USD370 million would have been spent on infrastructure funds in Saskatchewan and New Brunswick. BHP Billiton would also have applied for a listing on the Toronto Stock Exchange. In addition, BHP Billiton was prepared to make a unique commitment to forego tax benefits to which it was legally entitled and, as a condition of the Minister's approval, BHP Billiton was prepared to remain a member of Canpotex for five years. Both of these undertakings were intended to allay any concerns the Province of Saskatchewan may have had regarding potential losses in revenues.
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BHPBill -- announcement by Canadian Minister
BHP Billiton has noted the announcement today by the Canadian Minister of Industry Tony Clement that he is not satisfied at this time that the BHP Billiton offer to acquire all of the issued and outstanding common shares of Potash Corporation of Saskatchewan Inc. ("PotashCorp") (NYSE:POT/TSX:POT), together with any associated rights issued and outstanding under the PotashCorp Shareholder Rights Plan, (the "Offer") is likely to be of net benefit to Canada.
The Minister has advised BHP Billiton that the company has 30 days or such further period as may be agreed to make further representations and undertakings to the Minister with respect to the Offer. At the end of that time period, the Minister will notify BHP Billiton whether he is or is not satisfied that the Offer is of net benefit to Canada. BHP Billiton is disappointed, but continues to believe that the Offer is of net benefit to Saskatchewan, New Brunswick and Canada. BHP Billiton will continue to cooperate with the Minister and the Investment Review Division of Industry Canada and will review its options.
The Offer is being made by BHP Billiton Development 2 (Canada) Limited (the "Offeror"), an indirect wholly-owned subsidiary of BHP Billiton Plc. This document is for information purposes only and does not constitute or form part of any offer to purchase or any solicitation of any offer to sell PotashCorp`s common shares. The Offer (as the same may be varied or extended in accordance with applicable law) is being made exclusively by means of, and subject to the terms and conditions set out in, the offer and the circular, the letter of transmittal, the notice of guaranteed delivery and other related tender offer materials (the "Offer Materials"). In connection with the Offer, the Offeror, BHP Billiton Limited and BHP Billiton Plc have filed with the Canadian securities regulatory authorities the Offer Materials and have filed with the U.S. Securities and Exchange Commission (the "SEC") a Tender Offer Statement on Schedule TO (the "Schedule TO"), including the Offer Materials.
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While the Offer is being made to all holders of PotashCorp common shares, the Offer is not being made or directed to, nor will deposits of PotashCorp common shares be accepted from or on behalf of, holders of PotashCorp common shares in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction. However, the Offeror may, in its sole discretion, take such action as it may deem necessary to extend the Offer in any such jurisdiction. This document contains information, including information relating to PotashCorp, that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of such information.
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BHPBill to get ruling on Potash
Business Day reported that Canadian Prime Minister Stephen Harper has until the 3rd of November to decide whether to refuse BHPBill's USD40 billion bid for Potash Corporation. The country has approved 1 637 corporate takeovers since 1985 and rejected one. The Conservative government is examining the bid for Potash and faces pressure from provincial politicians to block it. The federal review must weigh the government's policy of attracting foreign investment against the opposition stirred up by the proposed deal.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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