Released: 02/10/2009
http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20091002:RnsB1097A
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RNS Number : 1097A
Takeover Panel
02 October 2009
2009/24
ANGLO AMERICAN PLC ("ANGLO AMERICAN")
XSTRATA PLC ("XSTRATA")
Following recent representations made by the advisers to Anglo American, the
Panel Executive has been considering the application of Rule 2.4(b) of the Code
to the announcement made by Anglo American, on 21 June 2009, in which it
confirmed that it had received a preliminary proposal from Xstrata that may lead
to an offer for Anglo American. Following discussions with both parties'
advisers, the Panel Executive has ruled that, unless the Panel Executive
consents otherwise, Xstrata must, by 5.00 p.m. on 20 October 2009, either
announce a firm intention to make an offer for Anglo American under Rule 2.5 of
the Code or announce that it does not intend to make an offer for Anglo
American. In the event that Xstrata announces that it does not intend to make an
offer for Anglo American, Xstrata and any person(s) acting in concert with it
will, except with the consent of the Panel Executive, be bound by the
restrictions contained in Rule 2.8 of the Code for six months from the date of
such announcement.
Each of the parties has accepted this ruling.
2 October 2009
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