As the Brazilian miner bolsters its reserves, it is time for Cynthia Carroll and Mick Davis to have a chat.
The well-heeled bankers who dine at the same Johannesburg restaurants Anglo and Xstrata frequent say that Anglo chief executive Cynthia Carroll should at least meet her counterpart, Mick Davis. She has nothing to lose. Or maybe she does. Local shareholders could well be tempted by a modest premium from Xstrata, plus a commitment to a continued Johannesburg listing to address exchange control concerns.Anglo’s management is increasingly seen as an obstacle to a favourable deal – or at least a convincing rebuttal.
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Related links:
Spat over Xstrata deal savings is more than academic – FT
Clubbable miners – FT Alphaville