HomeBase MetalsAnglo American considering next move against Xstrata

Anglo American considering next move against Xstrata

John Parker,
Anglo American
London, England — MININGREVIEW.COM — 07 September 2009 – Anglo American plc “’ one of the world’s major diversified mining groups “’ seems unlikely to decide for several weeks on whether or not to force unwanted suitor Swiss-based Xstrata to make a formal bid or walk away.

Revealing this here, an unidentified source said: “A lot of the institutions know Anglo American chairman Johan Parker. They know him from wearing other hats and he’s very interested to hear their views.”

Reuters reports that Parker has resumed consulting with shareholders after the summer holidays and is keen to gather reaction to Anglo’s stance of rejecting Xstrata’s nil-premium merger proposal.

Veteran industrialist Parker, who has chaired eight other firms, assumed the top post at Anglo on 1 August. He saw shareholders in the UK last week and will travel to South Africa this week, the source added.

No one at the company could be reached immediately to comment.