Anglo American rises amid talk of GBP 16-per-share break-up bid; Mick Davis tipped as bidder
Shares in Anglo American climbed yesterday, 28 April, amid increasing speculation of a takeover, The Daily Mail reported. Dealer chatter suggested a break-up bid for the UK-based miner could be imminent, priced at more than GBP 16 (USD 24.36) per share, the newspaper’s market report said.
Dealers believe the former Xstrata chief executive Mick Davis could be a potential buyer via his X2 Resources vehicle, which has in excess of GBP 3bn firepower for deals, the item reported. It added that Davis may alternatively be interested in Anglo’s De Beers subsidiary, the diamond miner considered to be the crown jewel of the group.
The UK-listed Swiss commodity-trading company Glencore was also suggested as a possible bidder for Anglo American, which has a GBP 15.7bn market capitalisation on the London Stock Exchange and was trading at GBP 11.29 by yesterday’s close.
The original article appeared in print, page 80.
Source Daily Mail