In today’s briefing:
- Los Andes Copper: The Copper M&A Wave Has Started + Chilean Population Rejects New Constitution
- Walmart Inc: Acquisition of Volt & Other Key Drivers
Los Andes Copper: The Copper M&A Wave Has Started + Chilean Population Rejects New Constitution
- Over the last two months, the two largest commodity behemoths have been trying to acquire copper deposits on the cheap. Both have been rebuffed.
- Rio Tinto Ltd (RIO AU) has raised its original 34 CAD bid for Turquoise Hill Resources (TRQ CN) twice, but large minority shareholders have voiced opposition.
- BHP Group Ltd (BHP AU) has offered to buy OZ Minerals Ltd (OZL AU) but has equally been rebuffed by management. Let the copper M&A Wave begin!
Walmart Inc: Acquisition of Volt & Other Key Drivers
- Like most other retailers, Walmart faced the impact of food inflation which continued to increase in the quarter.
- Delivery and pickup in the quarter are quite strong, and growth has been improving on the website Walmart.com with the inclusion of the marketplace.
- We provide the stock of Walmart with a ‘Hold’ rating with a revision in the target price.
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