”, renowned interviewer Guy Raz has quizzed such superstar innovators as electronic goods inventor James Dyson, Airbnb’s Joe Gebbia and Cisco Systems’ Sandy Lerner, among many others. One of his trademarks is to ask his myriad entrepreneurial guests one common question about their success: Was it skill or was it luck?
But no sooner was the plan announced than commodity prices changed direction. Anglo never ended up putting its plan fully into action, except by selling most of its coal assets. It now operates 65 mines around the world. The company that is almost synonymous with South Africa’s corporate history, came back from the brink.
On Friday July 26, Agarwal announced he was selling out of the deal even before the debt formally became due. Agarwal put about $1.5-billion at risk in the deal. According to theand Bloomberg, he will probably profit $500-million from his investment and pocket between $200-million and $300-million after fees.
But the share price rise also worked against Agarwal’s takeover intentions because it increased the cost. Meanwhile, conditions for his own companies became more difficult. He has effectively been beaten back by force of circumstance, but also by Anglo’s gradual operational improvements.
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