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Anglo not asking for Xstrata bid order

Reuters | Mon, 21 Sep 2009 09:18
[miningmx.com] -- Miner Anglo American is not about to request a "put up or shut up" order be made against Xstrata to make a formal bid for Anglo or walk away, a source close to the company said on Sunday, denying a media report.

The source was responding to a report in the Observer weekly newspaper which said Anglo was set to ask the UK's City Takeover Panel to issue Xstrata with the order following Xstrata's 'merger of equals' approach. Anglo rejected the approach in June.

"The current situation has not changed," the source said. "It is something that Anglo keeps under constant review."

The company declined to comment.

Earlier this month a source close to the situation said Anglo was unlikely to make a decision for several weeks on whether to force Xstrata to either make a formal bid or walk away.




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