Many Chinese steel companies show interested in the acquisition of Australian mining Fortescue assets
Reuters Hong Kong / Shanghai, February 18— the informed sources said Wednesday, China’s iron and steel enterprises including Baosteel Group have discussed with Australia iron ore miners Fortescue Metals Group (FMG.AX: Quote) about the acquisition of its assets.
Baosteel Group and Fortescue began to contact several months ago. One source said other Chinese steel companies, such as Hebei Iron and Steel Group and Hunan Valin Iron and Steel Group all showed interested in the acquisition of Fortescue assets
There are three different problems for Coca-Cola to purchase Huiyuan, while the offer validity period remains one month
The outcome of this largest acquisition in China appears to be more and more difficult to guess. Currently, the Ministry of Commerce, deputy director of foreign investment management division Lin Zheying said, this acquisition faces three problems, that is:
Firstly, the over hype from media gives the disturb to the implementation of Ministry of Commerce;
Secondly, it still needs the post-impact valuation on the acquisition of the Huiyuan national brand, but the assessment results are still unknown;
Thirdly, it also needs the assessment on the development of the whole industry.
Now, the deadline of acquisition offer between Coca-Cola and Huiyuan will be expired on March 23, which only leaves one month. It means they need to re-examine this transaction after the time limit.
Apparel retailers Liz Claiborne will layoff 725 people in the United States
News on February 18: apparel retailers LizClaiborneInc. (LIZ) announced that in order to cut the cost, the company would lay off 725 people, which was equivalent to 8 percent of its total number staff in the United States. However, this layoff would be completed before the end of the first quarter.
British Bentley announced that it would lay off 220 staff
Global luxury goods consumer market continues to shrink, which caused the famous British luxury car manufacturer Bentley finally lay off its 220 employees so as to cut down the cost. Moreover, the company would reduce the wage in order to keep another 300 jobs.
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