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Anglo’s diamonds seen as M&A turnoff for Glencore: Commodities

Posted on 14 March 2012

Anglo American Plc (AAL)’s $5.1 billion plan to almost double its diamond business and platinum mines that are missing targets risk killing its allure as a takeover target for a merged Glencore International Plc-Xstrata Plc.
Anglo has agreed to buy an additional 40 percent of De Beers, the biggest producer of diamonds, a gem shunned by most commodities companies because it only trades over-the-counter. Cynthia Carroll, chief executive officer of London-based Anglo, said last month she’s reviewing its platinum operation, saying returns “are not acceptable.”……………………………………….Full Article: Source


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