I thought awhile back the Glencore could possibly be a suitor in our future if we had the big one. I watched them do the IPO and increase their borrowing power awhile back and thought it suggested they may be getting ready for a major purchase. I guess they were, looks like they want to pay $35 billion to take up the other 66% of Xstrata, that they don,t already own. If this is the case, I may take them off the list of possible suitors for us.

I am amazed at the scale of some of these big scale M&A proposals, and still think that some kind of deal could be done with us if we have the big one. The POT proposed deal of $42 billion, the Glencore proposed deal of $35 billion, and yes, the crazy IPO of Facebook that may value this company at 25 times forward earnings and put the valuation between $75-100 billion dollars.

On another note, I recently watched the news here a few weeks ago and saw where MacElhanney made a major purchase of over $1 billion in New Brunswick of the rest of a city block they owned there. MacEllanney,s business must be doing well to make a purchase of that scale?

IMO