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Article: Xstrata reaches out to Anglo investors
- Article from:
- The Independent (London, England)
- Article date:
- August 17, 2009
- Author:
CopyrightCopyright 2009 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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British and Swiss mining giant says cost savings alone justify
merger with its rival
Xstrata has stepped up its charm offensive aimed at Anglo
American shareholders and analysts in an attempt to persuade them
that cost savings alone justify the proposed tie-up between the two,
and that a premium for the merger is not necessary.
The Anglo-Swiss mining group hosted a beauty parade of its South
African coal and other overseas assets in Johannesburg, aimed
chiefly at South African investors, who it concedes are unfamiliar
with its operations in the country. Xstrata has proposed a "merger
of equals" with Anglo American, saying both companies' assets are
complimentary and that a combined group ...