×
205
Fashion Jobs
BASIC ENTERPRISES PVT LTD
Loan Consultant/ Area Sales Manager 4l Salary
Permanent · Gurugram
WHITEHAT JR
Sales Manager(Inside Sales_day Shift) Mumbai or Gurgaon _onsite
Permanent · Gurugram
VOLVO WHITE PAINTS INDUSTRIES
Hiring For Sales Officer/Area Sales Manager/ (Haryana)
Permanent · Sonipat
PATANGE INDUSTRIES PVT LTD
Requirement - Production Manager
Permanent · Pune
RESPICARE SOLUTIONS
Area Sales Manager /Business Development Manager-Mumbai / Maharashtra
Permanent · Navi Mumbai
GRAND CHEMICAL WORKS
Area Sales Manager- Jaipur & Lucknow
Permanent · Lucknow
ASTRAL ADHESIVES ( ASTRAL GROUP )
Astral Adhesives - Area Sales Manager - Construction Chemicals
Permanent · Ludhiana
VADILAL
Area Sales Manager
Permanent · Varanasi
ASTRAL ADHESIVES ( ASTRAL GROUP )
Astral Adhesives - Area Sales Manager (Maintenance Division)
Permanent · Jodhpur
PREETI DEVELOPERS PRIVATE LIMITED
Manager- Sales
Permanent · Bengaluru
CEASEFIRE INDUSTRIES PRIVATE LIMITED
Area Manager/ Territory Manager (Sales)_ Goa
Permanent · Pune
INDEED.MX
Trabajo Para Mayores de ed+d
Permanent · MEXICO CITY
INDEED.MX
Trabajo Para Mayores de Edad
Permanent · MEXICO CITY
INDEED.MX
Trabajos Opción Home Office
Permanent · MEXICO CITY
INDEED.MX
Secretaria de Medios Tiempos
Permanent · MEXICO CITY
INDEED.MX
Archivista de Medios Tiempos
Permanent · MEXICO CITY
INDEED.MX
Capturista de Medios Tiempos
Permanent · MEXICO CITY
ECL FINANCE LIMITED
Area Sales Manager- Small Ticket Housing Loan
Permanent · Hyderabad
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Ahmedabad
Permanent · Ahmedabad
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
AQUAGENICS RESEARCH & DEVELOPMENT INDIA PVT. LTD.
Area Sales Manager
Permanent · Pune
JAYPEE BROTHERS MEDICAL PUBLISHERS PVT LTD.
Area Sales Manager
Permanent · Prayagraj
By
Reuters
Published
Oct 12, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Xstrata likely to walk away from Anglo

By
Reuters
Published
Oct 12, 2009

By Raji Menon

LONDON (Reuters) - Mining group Xstrata (XTA.L) has told a top-10 shareholder that it would likely abandon its pursuit of rival Anglo American (AAL.L), the investor said on Monday 12 October.



"They have pretty much indicated to us that they will be walking away," the investor, who declined to be named, told Reuters.

"They (Xstrata) think that with the new Anglo chairman coming in, they don't think they have enough support really to press and they feel there is no point in making it hostile."

British regulators issued a ruling on October 2 requiring Xstrata to make a formal takeover offer by October 20 or undertake not to return before April.

"Xstrata are just going to wait for six months and see if things deteriorate from an Anglo perspective (or) if Anglo Chairman John Parker changes his view. We think this is unlikely," the investor said.

A combination of Xstrata and Anglo American would create the world's biggest producer of zinc, platinum, coal for power stations and ferrochrome, and the second-biggest company in coal for steelmaking and in copper.

Another top-10 investor also said Xstrata would not press ahead.

"We believe Xstrata will walk away. They have made it pretty clear that the terms (for Anglo) are what they are and they are not willing to sweeten them."

Anglo Chairman Parker held a round of consultations with shareholders about Xstrata's "nil premium" merger proposal, which the firm called "totally unacceptable" on June 22, the day after Xstrata made the offer.

In August, Anglo shareholders told Reuters they backed Parker and were willing to give him time to deliver on a cost savings plans.

At 1142 GMT (7:42 a.m. EDT), Xstrata shares were up 2.1 percent to 973 pence while Anglo shares added 1.6 percent to 2,186 pence, compared to a 1.3 percent increase in the UK mining index.

(Editing by Karen Foster)

© Thomson Reuters 2022 All rights reserved.