Anglo American seeking China deal to ward off Xstrata - reports

Newspapers report that Anglo American is in talks with Chinalco over a strategic investment in an attempt to ward off a bid from Xstrata where there is a major culture barrier. Posted: Monday , 29 Jun 2009 LONDON (Reuters) - Anglo American is building its defences against a 41 billion pound 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... [read full story]                    

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