Hints and tips:
...We concluded that a merger with RB was the most compelling outcome in early 2021....
...Philip Mitchell, a former head of mergers and acquisitions at Rio, has been working for Mr Friedland as a consultant on the Nimba deal. These include the giant Oyu Tolgoi copper mine in Mongolia....
...These so-called sub-advisory arrangements have boomed in recent years....
...At a group level, the company delivered revenues of £111m (inline with recent Alpha Sense consensus updates), with gross profit of £68m (margins down 10bps YoY), with EBITDA of £1.8m....
...“In order to sustainably justify fee levels associated with active management, it is increasingly important to deliver alpha that is underpinned by an enduring and distinct investment process.”...
...A month before the email exchange, Rio paid $700m to the then new government in Guinea of president Alpha Condé to secure its claims over the remaining half of the $20bn project....
...David Riley, head of credit strategy, BlueBay Asset Management Productivity growth is likely to remain sub-par at less than 1 per cent in 2018....
...Even alpha — or at least a good deal of it — can be replicated by computers, academics claim....
...Both deals reflect a wider theme at the heart of the record wave of mergers and acquisitions convulsing the pharmaceuticals sector....
...The Stoxx 600 banking sub-index is trading at a price of 10 times forecast earnings in 2016, compared with 15 times earnings for the overall index....
...US-based Conoco, meanwhile, confirmed it had “stopped” developing the Tommeliten Alpha discovery, southwest of the Ekofisk field in the Norwegian North Sea....
...Novartis and GlaxoSmithKline, for example, last month completed a $20bn asset swap in which they each offloaded sub-scale businesses and beefed up areas of strength....
...An interesting article by Michael Fitzsimmons on the website Seeking Alpha spells out the current situation in detail....
...Sir Andrew points to the six new drugs approved across all therapeutic areas last year and a further 40 in advanced development as proof that GSK’s innovation engine is working strongly....
...However, Mr Ferreira said that the two-year corruption inquiry in Guinea and the country’s president, Alpha Condé, had cleared Vale of any wrongdoing and left the door open for it to bid again for mining...
...“If I have a great alpha idea, I no longer have to work at a large bank. It is a very different model.”...
...“I haven’t slept longer than a four- or five-hour stretch since my mid-20s,” says one fiftysomething mergers and acquisitions executive....
...The committee, set up by the elected government of Alpha Condé, has the power to recommend cancellation of BSGR’s rights....
...It would also have an option to acquire 11 branded drugs that cover a range of therapeutic areas....
...The mining groups’ existing agreement was struck under the dictatorships that preceded the presidency of Alpha Condé, who said last week that the government was working with Vale to ensure its continued...
...It is a test for Alpha Condé, the veteran opposition leader elected president in December 2010, and his two highest-profile advisers, Mr Soros and Tony Blair, the former UK prime minister....
...One of these, featuring sharply rising vertical rectangles, rather resembled a bar chart of growing alpha returns....
...And before being merged into F&C UK Alpha, which had returned 22.6 per cent to investors, the F&C UK Opportunities fund had risen only 14.3 per cent....
...Meanwhile the government of Alpha Conde, Guinea’s new president, is proceeding with a comprehensive review of mining licenses....
...However, Canaccord Genuity reckons they should not worry as president Alpha Condé has apparently asked for regular updates on its Forecariah and Kalia projects....
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