Up
to Xstrata to improve Anglo offer : big shareholder - 6
July
The board of Anglo American would surely consider a merger
proposal from Xstrata at a price that recognised Anglo's top-tier
assets, major Anglo shareholder Old Mutual said. But if Xstrata
stuck to its "merger of equals" plan, Anglo would be
better off remaining independent, Anwaar Wagner, portfolio manager
at Old Mutual Investment Group, told Reuters in an interview. - Creamer
Media's Mining Weekly website
Xstrata-pursued
Anglo meets South African Minister - 6 July
The CEO of Xstrata-pursued Anglo American, Cynthia Carroll, met
South Africa's new Mineral Resources Minister Susan Shabangu at
the weekend, amid intensifying media reportage on the prospect
of a possible merger between the two companies. - Creamer
Media's Mining Weekly website
State
backs Anglo on merger refusal - 7 July
Mines Minister Susan Shabangu told Anglo American at a meeting
with chief executive Cynthia Carroll that the department supported
the company after it rejected a merger proposal from Xstrata. - Business
Day website
Merged
Anglo-Xstrata could compete 'toe-to-toe with BHP Billiton on JSE'
- 8 July
The proposed merger of Anglo American and Xstrata would enable the
combined entity to compete "toe-to-toe with BHP Billiton
globally and on the JSE", as well as with any new entrant
that might emerge out of China or Russia, Xstrata GM strategy and
corporate affairs Thras Moraitis said on Wednesday. Moraitis told Mining
Weekly Online that the combination of BHP and Billiton had
created a 389% return for shareholders, which was a "very
powerful endorsement" for the proposed Xstrata-Anglo
combination. - Creamer
Media's Mining Weekly website
Anglo
American bolsters board for fight against Xstrata - 10 July
Anglo American has appointed Sir John Parker as chairman to
bolster the mining company's defences against an unwanted
takeover bid from rival Xstrata. Parker joins the board with
immediate effect and will become chairman on 1 August. He
succeeds Sir Mark Moody-Stuart, who is retiring after seven
years as chairman. Parker, who is well-respected in the City, is
chairman of the UK's National Grid. In South Africa, where Anglo
was founded and still has many operations, he shares with Cyril
Ramaphosa the chairmanship of the Mondi Group, the paper
producer that was spun off from Anglo two years ago. - Guardian
website
Xstrata-pursued
Anglo disregards South Africa's wish for black chairperson -
10 July
The Xstrata-pursued diversified mining company Anglo American on
Friday disregarded a publicly expressed Ministerial wish that a
black South African be appointed as the non-executive
chairperson of the company and instead moved quickly to
extinguish rising South African expectations by revealing, in a
crack-of-dawn announcement, that serial UK board sitter Sir John
Parker had been appointed to the position. - Creamer
Media's Mining Weekly website