Xstrata to bid for Asturiana.(International Pages)(Brief Article)
Mining Journal, January, 2001
Xstrata AG of Switzerland announced details of a takeover offer for the Spanish zinc producer Asturiana de Zinc SA this Monday, possibly heralding the start of an anticipated bout of consolidation in the zinc sector. Xstrata will offer[Euro]13.50/share in cash, valuing the whole of Asturiana at about [Euro]544 million. The offer represents a premium of 11% over the closing price of shares in Asturiana last Thursday. Xstrata was obliged to make a brief, preliminary announcement regarding the impending offer on Friday, after the price of shares in Asturiana rose suddenly (presumably on rumours).
Xstrata's offer is made with the full blessing of its major shareholder, the Swiss-based minerals trading and producing group Glencore International AG, which holds a...
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