Anglo builds defences against Xstrata bid

The miner is reportedly open to talks about a major Chinese investment, while its search for a new chairman proceeds Anglo American is building its defences against a £41 billion ($67.74 billion U.S.) merger approach from Xstrata by plotting talks about a major Chinese investment, the Sunday Telegraph reported. The newspaper also said Anglo American had reignited plans to appoint Sir John Parker as chairman and had made an attempt to recruit him in recent days. The report said Anglo, which rebuffed a proposal from Xstrata to consider a merger of equals, is to open talks with Aluminum Corp. of China (Chinalco) and an unidentified Middle Eastern investor about a partnership to inject hundreds of millions of dollars into MMX, its Brazilian... [read full story]                    

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