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Fifty-four diversifying acquisitions in manufacturing and mining industries from 1974 to 1976 are investigated in terms of sales growth rate, rate of return on assets, and current ratio of the acquiring and acquired companies. The average characteristics of acquired companies, classified by the characteristics of their acquiring companies, are compared. Results indicate significant structural matches between the acquired and acquiring companies to exploit strengths and avoid weaknesses in growth, profitability, and liquidity. It appears that firms try to balance their business segments in terms of product life cycle stages within a limit of maintaining proper levels of profit. [ABSTRACT FROM AUTHOR]

This study examines how industrial characteristics at home affect Chinese overseas acquisition activities from an industry-level resource-based view. Analyzing data on 512 Chinese overseas acquisition deals across 36 industries in 60 countries over 2003-2008, we find that: (1) firms in industries with higher levels of technology intensity are more likely to acquire foreign firms, while firms in labor-intensive industries are more likely to stay at home; and (2) the relationship between technology gap and international acquisition activity is hill-shaped. This implies that overseas acquisition is particularly attractive for developing Asian firms in industries with high technology intensity, and a medium-sized technology gap is essential for identifying potential targets. [ABSTRACT FROM AUTHOR]

(This paper is drawn from various chapters of the author's forthcoming book, "Principles of Mine Planning, Vol-II, Enterprise Building", now in press. Reprinted with permission from the Publisher, Engineering Press) 1. "....BHP Billiton has come out of Australia; Vale came out of Brazil and Anglo American of South Africa. It was absolutely imperative that an Indian natural resources player should be seen as emerging. We need not one, but at least five such Indian companies. So, we have taken the first step where we can say to the world we are an Indian natural resource player going global". 2. " One metal company cannot create and sustain value. A metals 'pure play has very less value. Vale has always suffered ... so they have now added coal, copper, etc, to have a mixed basket and diversify. As an Indian company, we have really large capacities but internationally we are still small. We have only created a foundation for taking off ". Anil Agarwal, Chairman, Vedanta Resources on justifying merger of Cairn Resource, India with Vedanta Group. [ABSTRACT FROM AUTHOR]

The article discusses the traditional business integration in the mining regions in Western Europe and analyzes mutual investments and mergers in all important mining regions in France, Belgium and Luxembourg. Foreign investments and co-operation with firms abroad were reportedly important for the economic development of Western Europe in the late 19th century. It discusses the causes of the growth of supra-regional business integration since the 1890s made possible by mutual delivery agreements and the geographical proximity of the mining regions.

With data from the South African gold mining industry, we find evidence consistent with theories that mergers and acquisitions allow for the shedding of excess labor. Mergers are arguably exogenous in our sample, while an industry in decline can provide a good setting for testing the theories. The data clearly portray rises in real wages and falling employment after the end of apartheid. We find evidence of a significant negative effect of mergers/acquisitions on employment. The magnitude is similar to the effect in Continental Europe and larger than the effect in the United States. This supports the view that negative employment impacts are more likely in rigid labor markets. [ABSTRACT FROM AUTHOR]

The past year was a watershed year in the mining sector in terms of the magnitude of mergers and acquisitions that occurred. These transactions have reshaped the hierarchy of the mining sector for the next decade. Considering the amount of consolidation that we have witnessed during the past few years coupled with the decreasing amount of exploration spending and limited number of exploration successes, the question that must be asked is: "Where are the new opportunities for growth?" One of the areas that can provide growth, particularly among the smaller players, is from the disposal of assets and businesses by the major companies as they digest their recent acquisitions. In addition, we may now see a shift from the "pure commodity play" company, that was the favored investment of many large U.S. mining investors in 1990s, to companies with more of a diversified commodity mix to achieve the required growth and return in the long-term. [ABSTRACT FROM AUTHOR]

An analysis of mining mergers & acquisitions during 2000 and 2001 is taken as a starting point for a discussion of the slowly increasing concentration of metal mining industries in general and in the gold and iron ore industries in particular. Potential influences on metal prices are also addressed and considered to be low at present. The industry should however be kept under close watch. [ABSTRACT FROM AUTHOR]

Comments on the case `Alpha v. TVX' in Greece which focused on confidentiality in joint ventures and acquisitions in the mining industry. Confidentiality agreement; Reasons for the court decision ruling that TVX had breached a duty of confidence; Ruling that the parties continued in a fiduciary relationship after the termination of the joint venture funding agreement.

This paper uses the NPV approach to merger decisions to select variables which are expected to explain changes in the aggregate number of mergers of US manufacturing and mining firms over time. We test for and estimate a cointegrating relationship between such variables. We find that in the long run the number of mergers and acquisitions is positively related both to the level of manufacturing production and to the level of the nominal bond yield. A short run dynamic model is also presented. Annual changes in merger and acquisition activity were found to be positively related to current changes in Tobin's Q and changes in Q lagged one, two and four years; positively related to changes in the current bond yield but negatively related to changes in the yield in the previous year, and finally that changes in merger activity were related to the degree to which the number of mergers differed from the long run or equilibrium value in the previous year. [ABSTRACT FROM AUTHOR]

This paper highlights several trends in merger activity in mining and manufacturing, and commercial banking in the United States for the period 1960 to 1983. The specific data examined included commercial bank mergers by types (horizontal, market extension), by corporate structure of the acquiring organization, and by regulatory authority providing final approval of these mergers. Over the time period analyzed, significant differences appear to exist between the magnitude and the timing of mining and manufacturing as compared to commercial bank mergers. These differences may result largely from changes in long-existing legislation in the banking sector, particularly those in recent decades. [ABSTRACT FROM AUTHOR]

This article presents information on several books related to capital and capitalistic organization. The book "Mergers in Industry: A Study of Certain Economic Aspects of Industrial Consolidation" is a statistical study of certain mergers in manufacturing and mining industries in the United States. These were important mergers to the extent that in one form or another they all continued to the present. The book assumes with reason, that true invested capital normally becomes in time a larger and larger proportion of nominal capital and surplus. Through the pre-war period the rate of profits compared with nominal capitals and surplus tended to fall. In pre-war times the mergers with whatever monopoly power they possessed were taking to themselves from the public a narrower and narrower manual margin of profit. The article also provides list of new books. Some of the new books are "Aspects of Public Utility Regulation in Massachusetts," by I.R Barner and "Manual of Monopolies and Federal Anti-Trust Laws," by L.J. Euler.

The article offers news briefs related to several business enterprise as of September 1, 2018. Mining firm Uitkomst has acquired business of mining contractor Khethekile Mining. Metal industry African Battery Metals (ABM) has acquired cobalt supplier Cobalt Blue which holds nickel-cobalt exploration licenses. Energy firm Insikazi Synergies has acquired stake inn pump industry KSB Pumps and Valves.

The article offers news briefs related to materials science, as of June 2018. Triton has announced the sale of Swedish manufacturer Ovako AB, a major producer of engineering steel for the European market. Finnish nanodiamond manufacturer Carbodeon and Dutch 3D printing specialist Tiamet 3D have announced the first nanodiamnond enhanced 3D printing. Toray Industries Inc. has acquired composite material manufacturer TenCate Advanced Composites Holding.

Major titanium dioxide (TiO 2 ) producer Tronox Ltd has signed a definitive agreement to acquire the TiO 2 operations of privately owned Saudi Arabian chemical and mining concern Cristal for US$1.673 billion in cash plus Class A ordinary shares representing a 24% stake in the new entity. Tronox intends to sell its Alkali business, which makes soda ash, to part fund the transaction, which has been agreed by both companies' boards. Subject to the receipt of Tronox shareholder approval and the usual regulatory clearances, the deal is expected to close before the first quarter of 2018. [ABSTRACT FROM AUTHOR]

This section offers news briefs concerning the African mining industry. The nascent mining sector of Malawi will benefit from the funds approved by the World Bank Board of Directors. There is a possibility that the economy of Zimbabwe will be affected by the planned mine takeovers of foreign-owned companies. Zimbabwe has been authorised by the Kimberley Process and Certification Scheme (KPCS) to export its diamonds.

Karl-Heinz Mühlhäuser GmbH & Co KG, a German tunnelling and mining equipment supplier, has acquired Obermann, an injection and grouting technology specialist that manufactures high-pressure jet grouting and flushing pumps. [ABSTRACT FROM AUTHOR]

The article reports on the acquisition of British mineral exploration company Treliver Minerals Ltd. of mining company Saxore Bergbau GmbH.

This section offers news briefs in Africa. A campaign targeting to help 3,000 graduates find information technology (IT) work in South Africa was launched by software company Microsoft, where it will act as a link between universities and IT companies. A 190 million U.S. dollars cash and paper offer from International Mining & Infrastructure Corporation plc was received by West African iron-ore explorer Affero Mining Inc.

The Weir Group PLC is expanding in the global mining and oil sands markets with the acquisition of a Canadian manufacturer of wear resistant linings and a Malaysian foundry and an agreement to buy a heavy bay foundry in South Africa. [ABSTRACT FROM AUTHOR]

The article reports on the move of Xstrata, a global miner, to merge its divisions in South Wales and Queensland under a single entity, which is Xstrata Coal Australia.

The article reports on the merger agreements singed by Freeport-McMoRan Copper & Gold Inc. (FCX), Plains Exploration & Production Co. (PXP) and McMoRan Exploration Co. (MMR) in which FCX will be acquiring PXP fo $6.9 billion and MMR fo $3.4 billion in the U.S.

The article reports on the acquisition of mineral exploration and development Queenston Mining Inc. by Osisko Mining Corp. for $550 million.

ITT Corp has completed the acquisition of Godwin Pumps, a specialist in the sale and rental of automatic self-priming portable pumps for the global industrial, construction, mining, municipal, oil and gas markets (see Pump Industry Analyst, June 2010). [ABSTRACT FROM AUTHOR]

The Weir Group plc is buying the Linatex group of companies, the Kuala Lumpur, Malaysia-based provider of wear-resistant products to the mining and sand & aggregates industries, in a US$200 million deal. [Copyright &y& Elsevier]

The Finnish mining and metallurgical technology company Outotec Oyj has announced a €93 million takeover offer for Larox Corp, the industrial filter manufacturer. [Copyright &y& Elsevier]

The article reports that the Chinese mining firm Jinchuan has acquired a 70% stake in Tiomin Kenya Limited (TKL). According to Canadian-based mining firm Tiomin, Jinchuan is expected to immediately invest 25 million U.S. dollars in a bid to revive the project that is located in the coastal region of Kenya. Moreover, Tiomin chief executive officer Robert Jackson says that the closing of the deal will be an important event for Tiomin.

The Weir Group plc has continued to perform strongly during the third quarter of 2008, with good growth in input, revenue and profit, on a constant currency basis, reflecting ongoing demand for the group''s products across the mining, oil & gas and power sectors, and the impact of recent acquisitions. [Copyright &y& Elsevier]

The article reports on Xstrata's hostile bid for Lonmin, a South African mining company. According to the article, both companies accused each other of using dirty tricks to garner shareholder support. Lonmin advisers have blamed Xstrata for leaking false information to the media suggesting that its chief executive officer, Brad Mills is facing a boardroom backlash led by chief strategic officer Ian Farmer.

The Weir Group plc has agreed to acquire the CH Warman Pump Group, a specialist pump business primarily focused on serving the mining and minerals processing industry throughout Africa, from Research and Development Pty Ltd and CH Warman Holdings Pty Ltd. [Copyright &y& Elsevier]

The article reports that Johannesburg-listed Impala Platinum Holdings Ltd. has agreed a 5.2-billion Rand of sale of shares to the Royal Bafokeng Nation and Impala employees in South Africa. In line with the black economic empowerment transactions, the indigenous Bafokeng is entitled a 9 percent stake in Impala.

Reports on the failure of the takeover bid between Harmony Gold Mining Co. Ltd. and Gold Fields Inc. Total shares sold by Harmony in its rival, Gold Fields.

Presents business-related updates concerning the minerals and materials industry as of January 2005. Protocol signed by Alcoa, Alcan and the Republic of Guinea government for the development of an alumina refinery; Company formed through the merger between IMCO Recycling and Commonwealth Industries; Agreement forged by Global Alumina Products Corp. with the Republic of Guinea.

Presents updates on companies involved in the mineral, metal and materials industries as of March 2004. Contract extension received by Boeing Co. of Houston, Texas from the U.S. National Aeronautics and Space Administration; Acquisition of the Australian gold assets of Pittston of Lebanon, Virginia and interests in various ventures by the MPI Mines of Melbourne, Victoria; Entry into an agreement by Nucor Corp. of Charlotte, North Carolina to purchase interest in Harris Steel Group of Ontario; Approval of a ferrochrome smelter in South Africa by Xstrata of Zug, Switzerland.

Presents news briefs related to the minerals, metal and materials industry as of January 2004. Acquisition of Safety West by Pennsylvania-based Airgas; Completion of the expansion program of Alcoa; Plans for a recycling drop-off center of Ball Corp. and the city of Golden, Colorado; Construction plans of South African-based Gold Fields for a factory in Kambalda, Australia.

Compares the profitability of conglomerate mergers in the United States-based manufacturing and mining industry based on data acquired between 1895 and 1977. Questions regarding the efficiency-increasing function of mergers; Failure of active acquirers to achieve superior profit returns; Non-existent real efficiency gains; Biased stock market gains in favor of acquired rather than acquiring company stockholders. INSETS: A Touch of Grace;DEPARTMENT OF BUSINESS WISDOM;A Tax Attack on the Urge to Merge;SLOWLY FLOWS THE OIL