Anglo American came under pressure from its shareholders on Tuesday to keep the door open to a possible merger with rival miner Xstrata. Some investors and analysts were surprised by the ferocity of Anglo’s initial rejection on Monday of Xstrata’s proposal for a nil-premium, all-share merger. David Cumming, head of UK equities at Standard Life Investments, has urged other investors to push Anglo American to talk to Xstrata. So far Xstrata has given no indication it is willing to sweeten its offer.

This entry was posted by Gwen Robinson on Wednesday, June 24th, 2009 at 5:09 and is filed under Capital markets, M&A. Tagged with anglo american, xstrata. Edit this entry.