Word: priced
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Dates: during 2000-2009
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Even so, not every shareholder is thrilled at the prospect of selling to the Chinese. Chinalco is a huge consumer of iron ore, and mining companies fear that the investment in Rio Tinto could give China more influence over the price. During the boom years, when Chinese companies' appetite for virtually every metal was voracious, they got stuck with stiff price increases. The deal could give Chinalco, which already owns 9.3% of Rio, better access to the company's choicest deposits of copper, iron ore and bauxite. The secretary-general of China's Iron and Steel Association, Shan Shanghua...
...billion into New York City--based private-equity firm Blackstone in return for a 10% stake in the company--just before the bottom fell out of U.S. debt and equity markets. That deal was followed by a $5 billion purchase of a 9.9% stake in Morgan Stanley, whose share price has since fallen by more than half...
Considering how far mineral prices have fallen, some analysts believe Chinalco might actually be paying a premium for Rio Tinto assets. But BOC International's Xu says, "The price is much, much lower for the assets--particularly iron ore and copper--than it would have been just six months ago. This seems like a pretty good deal." And as long as commodity prices are depressed, Chinese companies will be Going Out, cash in hand, ready...
...funding to avoid disaster. On Thursday, it was announced the country would receive over $25 billion of international bailout funds to last through the year. As David Hechlam, a director of the rating agency Fitch, commented: “They could probably get access to the markets, but the price they would have to pay would be very high”—given the situation, prohibitively high...
...soldiers know, it's almost certain that getting it right now, after years of Western drift and inattention, will come at a heavy price in American money and lives. Having doubled down in the hopes of winning in Afghanistan, the Obama Administration has no choice but to live with the consequences...