Xstrata, rival may merge
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AFP
Oluşturulma Tarihi: Haziran 23, 2009 00:00
LONDON - Anglo American, the London-based mining giant, on Monday confirmed receiving a merger approach from Swiss rival Xstrata that could lead to the creation of one of the world's biggest miners. Xstrata on Sunday said it had made an approach to Anglo American but did not provide any figures.
According to a report in London's Sunday Telegraph, Xstrata's chief executive Mick Davis wrote to the Anglo American board last week with a view to launching discussions about a possible 41 billion-pound ($68 billion) deal.
Anglo American on Monday responded to the press report and Xstrata's statement with a short comment of its own. "The Board of Anglo American confirms that it has received a preliminary proposal from Xstrata which may or may not lead to a transaction involving the Group," it said.
"This situation is at a very preliminary stage and that there is no certainty that any transaction will be forthcoming," a statement added.
Anglo American on Monday responded to the press report and Xstrata's statement with a short comment of its own. "The Board of Anglo American confirms that it has received a preliminary proposal from Xstrata which may or may not lead to a transaction involving the Group," it said.
"This situation is at a very preliminary stage and that there is no certainty that any transaction will be forthcoming," a statement added.