Anglo strikes out alone - but can it 生き残る a 企て，努力，提案 一斉射撃，（質問などの）連発／ダム? ALEX BRUMMER
There is an 仮定／引き受けること that once a 入札者 shows the colour of its money, the 運命／宿命 of the 的 company is settled.
BHP has made two 攻撃するs at Anglo American, first with a £31billion 申し込む／申し出 and now a second £34billion approach. Both have been robustly 拒絶するd.
Feedback from Anglo’s 重要な 投資家s has been 消極的な. No one likes the conditionality of the 取引，協定 which 要求するs divestment of a 少数，小数派 in two Anglo 投機・賭けるs to the South African 在庫／株 交流.
There is also 不確定 as to what happens to 物価s between now and when a dozen regulatory 当局 across the globe have their say.
Whatever course BHP takes, there is now a belief that the London-名簿（に載せる）／表（にあげる）d South African 鉱夫 will be gobbled up. Anglo will 捜し出す to 粉々にする this today when it 輪郭（を描く）s a go-it-alone 戦略.
No 取引，協定: BHP has made two 攻撃するs at Anglo American, first with a £31bn 申し込む／申し出 and now a second £34bn approach . Both have been robustly 拒絶するd
競争相手s to BHP are circling. Glencore has done nothing to discourage 憶測. It 株 所有権 of the Collahuasi 巡査 地雷 in Chile with Anglo American. There is 憶測 that アイロンをかける 鉱石 巨大（な） Rio Tinto might be tempted to enter the fray.
The belief that the rolling 企て，努力，提案 脅迫者 is unstoppable 茎・取り除くs from several factors. Anglo chairman Stuart 議会s has, in the past, shown little inclination to put his shoulder to the wheel to defend UK 資産s from predators.?
名簿（に載せる）／表（にあげる）d 会社／堅いs sold on his watch 含む Pilkington, Rexam and Cambridge-tech trailblazer Arm Holdings.
企て，努力，提案s do 行為／法令／行動する as a wake-up call to boards and 管理／経営. In the 1990s, Lord Hanson’s 攻撃する at ICI led to the break-up of Britain’s most 設立するd 産業の 巨大（な） which, with the help of Goldman Sachs, saw off the interloper. ICI did the 分裂（する）s and Britain’s most 価値のある 名簿（に載せる）／表（にあげる）d company AstraZeneca was born.
Anglo American, so far, looks ready for the fight. The board, together with 助言者s Centerview, Goldman and Morgan Stanley, has been working on a 戦略の 計画（する） which could 解放（する） value to 存在するing 投資家s and keep 約束 with its South African 遺産. One idea is to 蜂の巣 off its most alluring offshoot, diamond 鉱夫 De Beers.
巡査 is the gem than Anglo’s competitors 捜し出す and it becomes ever more 価値のある. Prices are 決起大会／結集させるing and are の近くに to a １０年間 long high of $10,140 a tonne まっただ中に 需要・要求する for green 科学（工学）技術s.?
Anglo has time advantage on its 味方する in reshaping itself, in that 企て，努力，提案s from BHP, Glencore, Rio or Canada’s First Quantum would 直面する long 延期するs for 競争 是認s.
There is a mixed history of 採掘 合併s. JP Morgan reckons that Rio has wasted £43billion on poor M&A 決定／判定勝ち（する）s.
However, 企て，努力，提案s are always attractive to (n)役員／(a)執行力のあるs and 投資家s because they 供給する a 大勝する to cashing out. It is going to 要求する enormous 決意 to 起訴する a go-it-alone 戦略.
貿易（する）ing places
When it comes to attracting foreign 投資家s and 貿易（する）, Paris knows how to roll out the red carpet.?
Its ‘Choose フラン’ event this week, designed to bring in £14billion or so of new 投資, will 含む シャンペン酒 歓迎会s at the Elysee Palace and other blandishments. A 委任する／代表 on a 最近の UK 貿易（する） 代表 to Singapore tells a different story.
When a powerful group of 長，指導者 (n)役員／(a)執行力のあるs descended from the Governm ent 計画（する）, it was explained that the 地元の 大使館 欠如（する）d the 予算 to 移転 them to their hotels and events.
An 企業ing 貿易（する） 助言者 in the Lords 設立する himself outside the 終点 conjuring up a (n)艦隊／(a)素早い of cars from 得る，とらえる, an Uber-style car service, まっただ中に 狼狽d mutterings.?
One 信用s this week’s 貿易（する） 強襲，強姦 on Saudi Arabia, led by 副 PM Oliver Dowden, will be better 用意が出来ている.
Unsung genius
Jim Simons, who has just died, was an American mathematician and financier most people will never have heard of.
Yet the academic, who turned entrepreneur at the age of 40, outshone the long-称する，呼ぶ／期間／用語 業績／成果 of the Oracle of Omaha 過密な住居 Buffett and George Soros.
Using sophisticated maths and 雇うing scientists, his Medallion 基金 earned $100billion (£80billion) in 30 years ? an 普通の／平均（する） 年次の return of 66pc per year.
At his 頂点（に達する） his model was 責任がある one third of all 塀で囲む Street 貿易（する）ing.
Who knew?
