“They wouldn't have spent $825m without their due diligence and a plan in place.”
Similar was surely said about Alcan:
Many would say Tom Albanese, chief executive of Rio Tinto, received a bonus when he kept his job. His bet on Alcan in 2007 started to go sour almost from the moment $38bn in cash left Rio's coffers. The miner is still counting its losses on the deal, with today's $9bn impairment charge making $18bn in total. Not many chiefs of FTSE 100 companies would have survived that.
Just because they are big and loaded, doesn’t automatically make all of their “due diligence” and “plans” high quality or robust.
DYOR
ps. Can you link their monthly updates? Ta
“They wouldn't have spent $825m without their due diligence and...
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