Commentaries

Now raising intellectual capital

Anglo’s shareholders – just waiting for more?

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The Times says Anglo American shareholders have rejected rival Xstrata’s merger approach.

“All of Anglo’s leading institutional investors are understood to have turned down Xstrata’s nil-premium merger of equals,” the paper says.

No great surprise perhaps given the initial market response — which saw the Anglo premium widen over its rival mining group.

What is clear from the Anglo share price is that Xstrata’s approach — whether or not ultimately successful — has jolted Anglo’s shareholders into action, increasing the pressure on Anglo’s management to up its game and reveal its hidden gems.

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