Agarwal’s Anglo bid raises more questions than answers

Agarwal’s Anglo bid raises more questions than answers

No sooner are miners once again making money than the takeover chatter begins. The starting pistol for this parlour game was fired last week, when Indian tycoon and Vedanta Resources (VED) owner Anil Agarwal launched a bid for £2bn-worth of shares in Anglo American (AAL), in an exceptionally convoluted and unusually structured financing arrangement brokered by JPMorgan.

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