Yanzhou's Friendly Takeover of Felix
The friendliness of the transaction stands in marked contrast with the ongoing diplomatic tensions between China and Australia over four detained Rio Tinto employees.
Attempted Restructuring Leads to Killing: Turmoil in China's Steel Industry
In a dispute over who will own and operate a Jilin Province steel maker, Chen Guojun, who had just been appointed as general manager, was beaten to death by a company employees on July 24. It is reported that he had just informed workers that the work force would be slashed from 30,000 down to 5000.
CIC on Teck: the Commodities Buying Spree Continues
Many industry-watchers have compared the Chinalco-Rio break up to China National Offshore Oil Company's unsuccessful play for Unocal in 2005, which cooled the pace of Chinese overseas acquisitions for several years. This time around, no such slowdown has occurred.
Rocky Road for Tenzhong-Hummer Deal
National Development and Reform Commission (NDRC) is likely to block the merger on the grounds that Tenzhong, a manufacturer of special-purpose construction machinery and infrastructure products, lacks the expertise to run Hummer. The NDRC is also unhappy about the poor fuel economy and high environmental impact of Hummer's gas-guzzling SUVs.
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