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De Beers Buyout Adds Polish to Anglo American
Nov. 07, 2011 03:03PM PST
Gem InvestingReuters reported taking full control of the world’s top diamond producer will add extra polish to Anglo American (LSE:AAL).
Reuters reported taking full control of the world’s top diamond producer will add extra polish to Anglo American (LSE:AAL).
As quoted in the market news:
The miner’s agreement to buy the Oppenheimer family out of De Beers was rewarded with a 1 billion pound ($1.6 billion) boost to its market cap on Nov. 4. At $5.1 billion, the price tag seems reasonable. But there’s more to the share-price boost: the deal is also another step towards a more straightforward Anglo – making it a more attractive merger partner.
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