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Australia's brassy contrarian [Robert Holmes a Court and takeovers]
Ist Teil von
Forbes, 1986-10, Vol.138 (7), p.41-43
Ort / Verlag
New York: Forbes
Erscheinungsjahr
1986
Link zum Volltext
Quelle
Nexis Uni
Beschreibungen/Notizen
Several years ago, Australian corporate raider Robert Holmes a Court wanted to take over Australia's Broken Hill Proprietary (BHP), after which its profits and market value quadrupled. Holmes a Court interests currently own 29% of BHP. Much of BHP's success depends upon its revenues being linked to US dollars, while most of its costs are in cheaper Australian dollars, allowing it to boost its income and volume. BHP is a low-cost iron, coal, and steel producer with extensive automation and rich deposits. BHP now is looking for new investments, having purchased such properties as General Electric's Utah International and Monsanto Oil Co. Elders IXL and BHP recently made large equity investments in each other, partly as a defensive move against Holmes a Court's takeover bid. Holmes a Court has profited handsomely from investing in BHP. Recently, Holmes a Court purchased stock in US Steel (USX) and may try to buy more. This is generating great interest in his involvement with USX.