IMPACT OF GFC ON AUSTRALIAN DOLLAR As United States of America and other European countries faced recession there were few developing Asian countries such as China and India which were least affected. China and India recorded 9.7 and 10% GDP growth respectively from 2006. Australia has abundant natural resources such as Iron ore‚ coal‚ Uranium etc. As these two hugely populated large economies which also consume huge resources was the main factor which helped Australia in surviving GFC (IMF 2009)
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A sorry state? Article analysis In the opinion piece‚ A sorry state? Written on 2nd of august 2007‚ Professor Janice Stevens opposes in an alarmed and critical tone that the treatment of David Hicks in Guantanamo Bay is a violation of human rights and that Australia’s response only shows that other citizens should be scared of themselves being held in such a state. In a sophisticated style the article addresses at an educated adult audience‚ or to those who are concerned about the treatment of
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Australia’s multicultural composition is at the heart of our national identity and is intrinsic to our history and character. Multiculturalism is in Australia’s national interest and speaks to fairness and inclusion.It enhances respect and support for cultural and religious diversity. It is about Australia’s shared experience and the composition of neighbourhoods. It acknowledges the benefits and potential that cultural diversity brings. It also allows those who choose to call Australia home the
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Neves de Almeida Q1. The rationale behind the intention of CSX to buy Conrail is mainly to anticipate a proposal from the other big player in the market Norfolk Southern. Both CSX and Norfolk Southern have basically the same routes and the latter company holds an advantage which is its capability to manage costs – more efficient. In case Norfolk Southern acquires Conrail‚ CSX will have serious problems to compete against them because they will have a wider range of connections and they will continue
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5620.90 | Norfolk Southern | 0 | 231 | 429 | 660 | 680 | 5375.29 | NPV(in million) | 1997 | 1998 | 1999 | 2000 | 2001 | Terminal | Total | CSX | 0 | 114.3997 | 212.6677 | 255.1742 | 225.1033 | 1682.557 | 2489.902 | Norfolk Southern | 0 | 111.5378 | 178.5319 | 236.7287 | 210.2153 | 1661.717 | 2398.731 | Case 2 Memo Team name: Leopard Team member: Chia-Yu Liou‚ Tzu-Yu Liu‚ Haoxin Guan‚ Siqi Hu 1. What is the per share value of Conrail to Norfolk Southern? To
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acquisition bids from CSX and Norfolk Southern. Introduction Conrail and CSX‚ the nation’s first and third largest railroads‚ have decided to participate in a merger of equals. CSX has offered to acquire Conrail in a two tiered deal. The first 40% of tendered Conrail shares will be bought at a price of $92.50 while the remaining 60% will be acquired through a stock swap at a ratio of 1.8561921 (CSX:Conrail). In the midst of this offer‚ a hostile Bid comes in from Norfolk Southern‚ a competitor in
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inside the industry‚ which typically follows with higher‚ or at least not lower‚ prices and therefore higher profit. Another argument that is mentioned in the materials is that CSX want to do the merger‚ before another company tries. CSX doesn’t want Norfolk southern to get Conrail. CSX is willing to pay $92.84 per share. 2. Analyze the structure of CSX’s offer for Conrail. Why did CSX make a two-tiered offer? Why did CSX want to do the first-tier transaction in two steps? Figure above shows
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the potential to increase its net income via cost reduction and profit increasing activities. Another driving force which made CSX pursue the merger with the tenacity at which it did was to prevent Norfolk Southern from acquiring Conrail. This threat was realized a week later when Norfolk Southern with its position as the second largest railroad company in the East placed a rival bid for a $100 per share. Over the next few months‚ both bidders upped their offers. Both companies (CSX
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synergy which means when the merge happens‚ the cost will reduce and the revenue will increase. For this part‚ I can get the price should be $83.71 according to the combined gains of operating income. Then‚ if Norfolk Southern purchases Conrail‚ some revenue of CSX will transfer to the Norfolk Southern. In this way‚ there is a potential loss. For this part‚ the price should be $23.45. As a result‚ the total price which CSX should pay for the Conrail is $107.16. There are more details in the form 1
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1 The Acquisition of Consolidated Rail Corporation 1. CSX wanted to merge with Conrail‚ because the consolidated company would have more than $8.5 billion in rail revenue and almost 70 % of the Eastern market. Gain in Operating Income from Cost Reduction would bring additional $370 million by the year 2000. Total gain from revenue increase would result in additional $180 million. And from the operating income would reach $550 million. Another important point in CSX-Conrail merger is the better
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