Deal du Jour

June 22, 2009

A new week, a new mega mining deal?Xstrata wants talks with UK-listed rival Anglo American about a merger of equals worth about $68 billion, seeking increased scale and cost savings. Xstrata’s attempt to forge a bigger group follows an iron ore tie up between BHP Billiton and Rio Tinto, and would mark another bold move by Xstrata CEO Mick Davis.And in the papers:British utility Centrica prepares to go hostile with its 850 pence a share bid for oil and gas group Venture Production, which is holding out for 950 pence, the Independent on Sunday reported.Government-owned conglomerate Dubai World has hired AlixPartners, the turnaround experts who are advising on the General Motors bankruptcy, according to a report in newspaper The National.Royal Bank of Scotland is poised to break up its Asian business after its attempted auction hit problems, the Sunday Times said. Reuters reported last month that front runners HSBC and Standard Chartered had not bid for all of the assets, and would only be interested if assets were sold separately or terms changed. ANZ is the third interested suitor.China Mobile and India’s Reliance Communications have started talks for an alliance, with possible 5-6 percent equity participation, the Business Standard said.Nigeria is set to lift a ban on the foreign takeover of its banks and toughen disclosure standards, the country’s new central bank governor told the FT.A member of a ruling family in the United Arab Emirates has bought a majority stake in an unnamed English Premier League soccer club, the official WAM news agency reported. Reuters story.

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