This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Dippin' Dots Melts: Deals to Watch

Stocks in this article: PXP LINE FCX AES MRO BCS JPM DPL

In a statement, Plains said the assets its selling to Linn are in Texas Panhandle properties and that they "generated total sales volumes of approximately 84 MMcfe per day during the third quarter of 2011 and had 263 billion cubic feet equivalent (Bcfe) of estimated proved reserves."

Plains hired Barclays Capital (BCS) for the sales and JPMorgan (JPM - Get Report) gave a fairness opinion to Linn Energy on its purchase.

Anglo American (AAUKY) said Friday it will pay the Oppenheimer family $5.1 billion to increase its stake in Johannesburg, South Africa -based diamond seller De Beers to 85%.


United Kingdom -based mining giant Anglo American will add to its position by making a further 40% investment in companies CHL and Centhold International Limited, which hold the Oppenheimer family's De Beers interests.

"This transaction is a unique opportunity for Anglo American to consolidate control of the world's leading diamond company," said Anglo American's chief executive, Cynthia Carroll in a statement.

Under agreements between Anglo American, CHL and the Government of Botswana, another investor, Botswana has the right to increase its stake in its De Beers holdings to 25% because of existing pre-emption rights.

Founded in 1917 as a gold mine in East Rand, South Africa with an investment by Sir Ernest Oppenheimer, JPMorgan and Newmont Mining (NEM), Anglo American is now a leading miner of platinum, diamonds, iron ore, coal, copper, nickel and zinc. In 1999, Anglo American merged with Moroco, and a year later it listed shares on the FTSE 100with a market cap of $21.6 billion according to the company's website.

AES (AES - Get Report) Friday in its third quarter earnings said it would sell 80% of its joint venture stake in a Spain -based AES Energia Cartagena gas fired plant for $234 million to GDF Suez. The company is also working on completing its $3.5 billion purchase of DPL Energy (DPL) announced in April. The company expects both deals to close as early as the end of the year.

AES shares rose over 2% to $11.85 in early trading, its shares are down 2.7% year to date.

-- Written by Antoine Gara in New York

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs