Anglo American gears up for takeover fight with mining tycoon Anil Agarwal Anglo American has called in the support of three investment banks to help it fend off a hostile takeover bid from mining tycoon Anil Agarwal. The London-listed mining firm has asked its advisers Morgan Stanley, Goldman Sachs and Centerview to draw up a plan to defend the company against Volcan Investments, Agarwal’s holding company, according [...]
Moody’s puts Vedanta on downgrade watch after deal which perplexed analysts Ratings agency Moody’s has lowered its outlook for Vedanta Resources, after a subsidiary paid $200m (£153m) for a stake in Anglo American. Shares plunged by nearly 18 per cent on Friday to 162.15 rupees after Vedanta announced the move, their lowest since 2016. Read more: Investors reduce Anglo American short stakes as company looks up The [...]
FTSE 100 miner Vedanta Resources merges Indian branches Vedanta Resources, the FTSE 100 Indian resources company, is undertaking more work to simplify its structure, confirming plans to merge its Indian subsidiaries, Mumbai-listed Vedanta Limited and Cairn India. Cairn India minority shareholders will receive one equity share in Vedanta Ltd, as well as one 7.5 per cent preference share with a face value [...]
Ex-Rio Tinto chief named as Vedanta CEO March 6, 2014 Tom Albanese, former chief executive officer (CEO) of miner Rio Tinto, has been named by Vedanta Resources as its new CEO. Albanese has been chairman of the India-focused mining company’s subsidiary Vedanta Resources Holdings since September of last year. He’ll succeed M.S. Mehta, who’s stepping down at the end of March. Albanese said of his [...]
Vedanta posts a rise in zinc and oil production October 9, 2013 OIL AND mining conglomerate Vedanta Resources yesterday reported a rise in oil, gas and zinc production in the second quarter and said it expected to resume mining iron ore in the southern Indian state of Karnataka shortly. But shares in the FTSE 100 group tumbled 4.67 per cent after Morgan Stanley downgraded its rating on [...]