Mergers & Acquisitions: Rio Tinto, Mitsubishi, and Berkshire Hathaway Make Bids
Rio Tinto (NYSE:RIO) and Mitsubishi Corp. (NYSE:MTU) have proposed buying all remaining shares of Australian miner Coal & Allied (ASX:CNA) for A$1.49 billion, or A$122 a share, a 34% premium on the coal miner’s last share price. Rio Tinto and Mitsubishi already own 86% of the company.
Warren Buffett’s Berkshire Hathaway (NYSE:BRKA) has bid $3.25 billion for Transatlantic Holdings (NYSE:TRH) in a deal that values Transatlantic shares at $52 each, a 15% premium to the company’s closing price Friday. Berkshire has outbid Validus Holdings (NYSE:VR) and Allied World Assurance (NYSE:AWH).
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