https://www.miningweekly.com
Mining|Resources|Environmental
Mining|Resources|Environmental
mining|resources|environmental

Anglo steps up defense to repel Agarwal's interest – Telegraph

Vedanta chairperson Anil Agarwal

Vedanta chairperson Anil Agarwal

23rd April 2019

By: Bloomberg

  

Font size: - +

LONDON – Anglo American has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources, Anil Agarwal, the Telegraph reported, citing unidentified people.

Agarwal has previously stated he had no intention to take over the miner, but bankers think he is now working with adviser JP Morgan Chase & Co to help finance a bid as soon as September, the British newspaper said.

Anglo American’s defense advisers, Morgan Stanley, Goldman Sachs Group Inc. and Centerview Partners, are said to plan attacks on the quality of Vedanta’s portfolio compared to Anglo’s assets, while Agarwal’s environmental track record is also likely to come under scrutiny, according to unidentified people cited by the Telegraph.

The mining tycoon increased his stake in Anglo American to more than 20 percent in September 2017 through a mandatory convertible bond maturing in 2020. Although Agarwal’s intentions are unclear, the approaching deadline is said to have put Anglo’s management on high alert, the Telegraph said.

Edited by Bloomberg

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.083 0.12s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: