Anglo not asking for Xstrata bid order: source
A logo of the Swiss mining company Xstrata is shown at the Headquarters in Zug March 26, 2008.
Credit: Reuters/Michael Buholzer
LONDON |
LONDON (Reuters) - Miner Anglo American (AAL.L) is not about to request a "put up or shut up" order on Xstrata (XTA.L) to make a formal bid 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."
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.
(Reporting by Kate Holton and Eric Onstad; Editing by Greg Mahlich)
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