Monthly Archives: September 2018

Questions About ESL’s Debt Reduction Proposal for Sears

On Sept. 23, in a 13D filing with the Securities and Exchange Commission, ESL Investments attached a proposal that it had made to Sears Holding (SHLD) that would reduce SHLD’s total outstanding debt by 78% through a combination of asset … Continue reading

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Barrick and Randgold Agree to Merge

On Monday, September 24, 2018, Barrick Gold Corp. and Randgold Resources Ltd. announced that they had agreed on a share-for-share merger that would create the largest publicly-traded gold company in the world.  Under the terms of the merger, each Randgold … Continue reading

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A Review of AT&T’s Prospects Following the Time Warner Acquisition

AT&T completed its acquisition of Time Warner on June 14, 2018.  Under the merger agreement, Time Warner shareholders received $53.75 per share in cash and 1.437 shares of AT&T stock for each TWX share held.  In total, Time Warner shareholders … Continue reading

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Diamond Offshore Works to Stay Afloat

Diamond Offshore is the offshore drilling company that is 53%-owned by Loews Corporation.  The company currently owns a fleet of 17 “floaters” (self-propelled drillships and semisubmersible rigs), four of which are currently cold-stacked.

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Barrick Gold: A More Speculative Bet on Gold

Barrick Gold is the second largest publicly-traded gold producer, with an equity market capitalization of $11.6 billion.  Like its rival, Newmont Mining, Barrick is focused on reducing costs and improving operating efficiency to maximize free cash flow generation in this … Continue reading

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Newmont Mining: A Safer Bet on Gold Mining

Based in the Denver, Newmont Mining Corporation (NEM) is the largest publicly-traded gold miner by equity market capitalization.  Its geographic segments include North America (the U.S.), South America (Peru and Surinam), Australia and Africa (Ghana).  Newmont’s share price rebounded sharply … Continue reading

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A Quick Look at the Price of Gold

These are tough times for investors in gold and even tougher times for investors in gold mining companies.  Since the beginning of 2011 (through Aug. 31, 2018), the price of gold, as measured by the continuous CME futures contract) has … Continue reading

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