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= Anglo American Looks To Nomura As Adviser In Xstrata Defense

Posted on: Fri, 17 Jul 2009 13:16:00 EDT

Symbols: AAUKD

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LONDON, Jul 17, 2009 (Dow Jones Commodities News via Comtex) --
AAUKD | Quote | Chart | News | PowerRating -- e>By Jeffrey Sparshott
Of DOW JONES NEWSWIRES

Anglo American PLC (AAUK) is poised to tap Nomura International as an adviser in its defense against Xstrata PLC (XTA.LN), a person familiar with the situation said Friday.

Anglo last month rejected Xstrata's proposed all-share "merger of equals," saying it lacked strategic merit and the terms were "totally unacceptable."

Nomura was lead adviser to Aluminum Corp. of China on its aborted $19.5 million investment in Anglo-Australian miner Rio Tinto, and also advised Brazilian miner Vale S.A. (VALE) in its failed takeover bid for Xstrata.

UBS Ltd and Goldman Sachs International also are advising Anglo.

Ernst & Young, Deutsche Bank and J.P. Morgan Cazenove are advising Xstrata.

Anglo and Xstrata would have a combined market capitalization of about $72 billion.

"We think Anglo's shareholders should be disappointed with management's apparent reluctance to engage with Xstrata," Nomura analyst Paul Cliff said in a July 6 research note.

Company Web site: http://www.angloamerican.co.uk

-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com

(END) Dow Jones Newswires

07-17-09 1316ET

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