DealZone

Deals wrap: Taking a shine to Goldfields

July 12, 2011

The award of a much-delayed mining permit that will turn European Goldfields into Europe’s largest primary gold producer could also make it a prime takeover target, in a sector where players are scrambling for growth.

Peabody Energy and ArcelorMittal are likely to succeed with their $5 billion takeover offer for Macarthur Coal, investors bet on Tuesday, driving up shares in the world’s biggest producer of pulverized coal by 37 percent.

“Mom-and-pop investors are helping to make or break an IPO’s reputation as “hot” in Hong Kong, one of the busiest markets for new listings in the last few years and one that is increasingly attracting companies from outside the city and China,” reports the WSJ.

Rupert Murdoch fought to contain a crisis engulfing his media empire after allegations surfaced that journalists at several of his News Corp papers had targeted former British prime minister Gordon Brown.

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