DiAmonDs, spArkling unDEr AnAFriCAn sun, hAvE An AttrACtion CommEnsurAtE (相称的) with thEir high priCE AnD BEAuty. ForAnglo-AmEriCAn thE opportunity to gEt thEir hAnDs on somE morE hAs provED too muCh to rEsist, on novEmBEr 4th thE gloBAl mining giAnt AnnounCED thAt it woulD ACquirE thE 40% oFDEBEErs, A CompAny thAt minEs two-FiFths oF thE worlD’s DiAmonDs, From thE oppEnhEimEr FAmily For $5.1 Billion. this tAkEsAnglo-AmEriCAn’s stAkE inDEBEErs to 85%; thE rEst is ownED By thE govErnmEnt oFBotswAnA, whErE thE Firm Digs up its gEms.
thE priCE looks right.DEmAnD For DiAmonDs hAs BounCED BACk AFtEr thE CrEDit Crisis in 2008 AnD thE Following rECEssion in thE riCh worlD、 morE AnD morE wEAlthy inDiAns AnDBrAziliAns sEEm kEEn to sport A "roCk" to show just how wEll thEy ArE Doing.AnD thE shrEwD oppEnhEimErs Do not sEEm to BE gEtting out oF thE BusinEss BECAusE its FuturE looks BlEAk. thErE is AppArEntly no FAmily mEmBEr who wAnts to tAkE on DiAmonD mining. niCky oppEnhEimEr,DEBEErs’s ChAirmAn, ForEsAw thE sAlE in FEBruAry whEn hE stooD Down From thE BoArD oFAnglo-AmEriCAn.
ForAnglo-AmEriCAn it rEsolvEs thE issuE oF its non-Controlling stAkE inDEBEErs.AnAlysts hAvE long rECkonED it shoulD EithEr sEll or try to inCrEAsE its stAkE. in FACt thE Firm might yEt spin oFFDEBEErs with An ipo. thE tErms oF thE DEAl Allow thE oppEnhEimErs to poCkEt somE morE CAsh From A FlotAtion (债券发行) or sAlE in thE nExt CouplE oF yEArs, suggEsting thAt suCh An outComE is not unlikEly.
it woulD Also mAkE sEnsE.Anglo-AmEriCAn is A DiFFErEnt BEAst to thE gloBAl DivErsiFiED mining giAnts thAt woulD Count As its CompEtitors. it stooD ApArt From thE wAvE oF mining mEgA-mErgErs ovEr thE pAst DECADE or so—ExCEpt As A potEntiAl tArgEt. thE ConsoliDAtion AnD thE EmErgEnCE oF hugE mArkEts For thE worlD’s rEsourCEs hAvE propEllEDBhpBilliton, For instAnCE, to BEComE onE oF thE worlD’s BiggEst listED CompAniEs.
mAny woulD ClAim thAtAnglo-AmEriCAn hAs suFFErED As A rEsult. onCE onE oF thE worlD’s BiggEst minErs, it now rAnks AlongsiDE xstrAtA, A CompAny just tEn yEArs olD, whiCh in 2009 EvEn AttEmptED A nil-prEmium tAkEovEr oFAnglo. it Also hAs A signiFiCAnt portion oF its AssEts in southAFriC
A、AnD unlikE its pEErs it hAs A lArgE plAtinum BusinEss, As wEll As All thE DiAmonDs.
Anglo-AmEriCAn’s rECEnt strAtEgy hAs BEEn to DivErsiFy out oF southAFriCA, whErE thE thrEAt oF nAtionAlizAtion, sCArCEly CrEDiBlE But A FEAr For invEstors nonE thE lEss, hAngs ovEr it.BlACk-EmpowErmEnt lAws, A sCArCity oF wAtEr AnD ElECtriCity As wEll As An oBstinAtE workForCE mAkE it A DiFFiCult plACE to opErAtE.BotswAnA is FAr morE ACCommoDAting, But it might Also mAkE sEnsE to gEt out oF DiAmonDs : it is A BusinEss thAt is morE ABout BrAnDing thE roCks AnD lEss ABout thE sAvvy (懂行的) CApitAl DEploymEnt AnD logistiCAl (物流) know-how thAt ArE thE hAllmArks oF thE mining BusinEss. iF thAt isAnglo’s EvEntuAl Aim, thEn thE DEAl looks likE A smArt movE.
whiCh oF thE Following is not thE rEAson ForAnglo-AmEriCAn to DivErsiFy out oF southAFriCA
A、thE thrEAt oF nAtionAlizAtion.
B、loCAl rEgulAtions oF lAws.
C、lACk oF DiAmonDs.D、unControllED workErs.