Xstrata signalled on Thursday its continuing interest in a deal with Anglo American, even as it dropped its ambitious proposal for a “merger of equals” with the rival miner. Swiss-based Xstrata on Thursday backed away from making a formal offer for Anglo after the UK Takeover Panel ordered it to “put up or shut up” before Oct 20. Xstrata cannot make another offer for six months, unless it is an agreed bid or third-party approach. But Mick Davis, Xstrata CEO, indicated his company continued to eye its rival.

This entry was posted by Gwen Robinson on Friday, October 16th, 2009 at 4:47 and is filed under Capital markets, Commodities, M&A. Tagged with anglo american, xstrata. Edit this entry.