33.4p per share( Buffett strikes ag12 Aug 2012 09:09
Iscar buys MTT for under half price in my estimation.
Which is a bit disappointing as we only have months to the conclusion of the Uzbek court case.
And of course Mongolia in the distance.
Why did Aik give in ?
ISCAR
The company was founded in 1952 in a wooden garage behind the home of Stef Wertheimer in Israel. After several years of steady expansion, the company headquarters moved to its current site in the Tefen Industrial Zone, situated in Israel's Western Galilee.
Iscar has expanded from a single marketing and manufacturing facility in Israel to a multinational company with representation in over 50 countries. Its production facilities are highly automated; at night, a single employee runs the plants on a computer, from home.
In May 2006, Berkshire Hathaway, chaired by Warren Buffett, purchased an 80% stake in Iscar for US$4 billion. It was the first time in Berkshire's history that it acquired a company based outside of the United States.
In 2008, Mr. Buffett called the acquisition of Iscar a "dream deal" that surpassed all his expectations. He personally attended the inauguration of a new production plant in Dalian, China.
The CEO of Iscar is Jacob Harpaz. The company has 140 subsidiaries in 65 countries.In a 2012 letter to shareholders, Iscar's managers were described as "brilliant strategists and operators," and Buffet praised the sales growth and performance of the company as "unique in its industry."
So, Warren Buffett has forced you out.
gla concerned