LUK news

[Guest kumar]

1. Lundin, Inmet Mining Agree to Merge to Create Company Valued at $9 Billion

 

http://www.bloomberg.com/news/2011-01-12/inmet-mining-lundin-merge-creating-copper-miner-valued-at-9-1-billion.html

 

Inmet Mining Corp. and Lundin Mining Corp. agreed to combine to create a Canadian copper producer with a market value of about C$9 billion ($9.1 billion) as the metal traded near a record....Inmet investors will get 3.4918 shares of Symterra Corp., as the new company will be called, for each of their shares and Lundin investors will receive 0.3333 of a Symterra share....Leucadia National Corp. said in a separate statement it would support the deal, which will see its 18 percent stake in Inmet become a 9.4 percent holding in Symterra....

 

2. This one is very interesting!

 

Familiar face buys The Market Common in Myrtle Beach

Shopping area plans a mystery

 

http://www.thesunnews.com/2011/01/13/1918056/familiar-face-buys-market.html

 

....the new owners aren't strangers to the property; the parent company of the buyer was also the parent company of the previous owner....BEI-Beach LLC, which bought the property last week, is a subsidiary of Leucadia National Corp. LUK-MB1 LLC, which owned The Market Common property before it failed to make payments and JP Morgan Chase foreclosed on the property, also was a subsidiary of Leucadia. LUK-MB1 was run by McCaffery Interests Inc., but Leucadia was the financial partner.

 

BEI-Beach LLC paid $19,178,122 for the property,....JP Morgan Chase foreclosed on The Market Common in May after LUK-MB1 failed to make payments. LUK-MB1 owed more than $105 million on a construction loan,...

 

 

[mhdousa]

1. Lundin, Inmet Mining Agree to Merge to Create Company Valued at $9 Billion

 

http://www.bloomberg.com/news/2011-01-12/inmet-mining-lundin-merge-creating-copper-miner-valued-at-9-1-billion.html

 

Inmet Mining Corp. and Lundin Mining Corp. agreed to combine to create a Canadian copper producer with a market value of about C$9 billion ($9.1 billion) as the metal traded near a record....Inmet investors will get 3.4918 shares of Symterra Corp., as the new company will be called, for each of their shares and Lundin investors will receive 0.3333 of a Symterra share....Leucadia National Corp. said in a separate statement it would support the deal, which will see its 18 percent stake in Inmet become a 9.4 percent holding in Symterra....

 

This seems to have fallen through:

http://www.sec.gov/Archives/edgar/data/96223/000090951811000132/mm03-3011_8k.htm

[Christopher1]

Annual shareholders letter is out:

 

Enjoy!

 

https://materials.proxyvote.com/Approved/527288/20110321/AR_86340.PDF

[gfp]

couldn't get your link to work, but here's the AR:

 

http://www.leucadia.com/10k_docs/luk_10k_2010.pdf

[biaggio]

http://www.sec.gov/Archives/edgar/data/96223/000009622311000013/lnc1stqtr2011form10q.htm

 

recent 10Q

[biaggio]

http://www.sec.gov/Archives/edgar/data/96223/000009622311000022/lncjune16form8k.htm

 

 

"Leucadia National Corporation (the “Company”) has sold an aggregate of 92,400,000 common shares of Fortescue Metals Group Ltd (“Fortescue”) for aggregate cash proceeds of $609,220,000. The Company will report a net securities gain on the sale of the Fortescue shares of $527,351,000 during the second quarter of 2011.  Since the Company’s investment in Fortescue has been carried at market value with unrealized gains and losses recognized as a component of other comprehensive income, the change in consolidated shareholders’ equity from March 31, 2011 as a result of the sale is a decrease of $2,550,000.

 

The Company continues to hold approximately 4.99% of the outstanding shares of Fortescue."

 

$600 million more to look for good deals with any further financial/economic corrections.