Does anyone else hold Vedanta and if so what do they think about Agarwal's plan to buy back the shares he doesn't already own at 825p per share (which would leave me with a loss of over 20%) and then organise a merger with part of AngloAmerican (see below).
"On the upside, Anglo American advanced following a report that Anil Agarwal, who owns 19.35% of the company, is preparing a plan to merge Vedanta Resources and Anglo American's South African business via a share swap." (Quote from today's Times)
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Vedanta and Anglo American
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- Lemon Quarter
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- Lemon Slice
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Re: Vedanta and Anglo American
Caused to wonder about recent 'events'. Hoping VED doesn't go through. As for AAL, no position.
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- Lemon Quarter
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Re: Vedanta and Anglo American
I can't see how it wouldn't go through. Agarwal owns 66.5% of Vedanta. Gets my goat that he pays himself a fortune despite the company not doing much for shareholders, then buys it back when the s.p. is low. I also hold Anglo American but the upside on that doesn't compensate for my loss on Vedanta.
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- Lemon Quarter
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Re: Vedanta and Anglo American
http://www.vedantaresources.com/media/2 ... shares.pdf
And yesterday the board recommended the offer. I hold both and am in profit on both, though hindsight annoyingly I did sell some VED a few months back at a slightly lower price and without the recent dividend. The price 818p is just below the 825p offer so it's 99% a done deal I say.
And yesterday the board recommended the offer. I hold both and am in profit on both, though hindsight annoyingly I did sell some VED a few months back at a slightly lower price and without the recent dividend. The price 818p is just below the 825p offer so it's 99% a done deal I say.
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- Lemon Quarter
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