3rd Nov 2014 06:32
LONDON (Alliance News) - Former Xstrata PLC chief Mick Davis has made another attempt to re-enter the industry, after tabling a multi-billion pound bid for a portion of Anglo American PLC, The Sunday Times reported.
The bid, understood to have been made in recent weeks, marks the second attempt by Davis to buy up assets from a mining major to form the centre of his new venture, X2 Resources Ltd, the paper said.
Davis, who sold Xstrata to Glencore PLC for USD27 billion last year, has raised USD4.8 billion for the new venture. He has already attempted to buy a set of assets from BHP Billiton PLC, but the Anglo-Australian group rejected the offer in favour of spinning off its aluminium, coal, nickel and manganese operations into a new listed entity.
http://www.thesundaytimes.co.uk/sto/business/Industry/article1478597.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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