Anglo American rebuffs merger interest from India’s Agarwal: Bloomberg

29 Jul, 2016 8:13 am

PRETORIA – Anglo American Plc has rebuffed informal approaches by Indian mining and metals tycoon Anil Agarwal, Bloomberg reported, citing people familiar with the matter.

Agarwal, who has majority control of Hindustan Zinc Ltd through Vedanta Ltd, contacted Anglo to discuss potential ideas including a combination with the Indian zinc miner, Bloomberg reported.

Vedanta sweetened its offer to take over subsidiary Cairn India Ltd last week, after an initial bid had been stymied for a year.

Vedanta Ltd and Hindustan Zinc were not immediately available for comment. Anglo American declined to comment. -Reuters

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