Xstrata: Disappointed By Anglo's Rapid Rejection Of Proposal

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The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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Xstrata: Disappointed By Anglo's Rapid Rejection Of Proposal

in response to

Anglo shares jump after Xstrata seeks merger talks

whaler

posted on Jun 22, 2009 03:25PM

Xstrata: Disappointed By Anglo's Rapid Rejection Of Proposal

14:11 EDT Monday, June 22, 2009

LONDON -(Dow Jones)- Anglo-Swiss miner Xstrata PLC (XTA.LN) said Monday it is "disappointed" by Anglo American PLC's (AAUK) rapid rejection of its proposal for an all-share merger.

"We are also surprised that the Anglo American board has not seen fit to engage with Xstrata to discuss our proposal in view of the substantial value for both companies' shareholders that would arise uniquely from a merger of the two companies," Xstrata said in a statement.

Company Web site: http://www.xstrata.com

-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com

  (END) Dow Jones Newswires
  06-22-09 1411ET
  Copyright (c) 2009 Dow Jones & Company, Inc.

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