Anglo-Xstrata merger hopes fading

It appears the on-again, off-again bid by Swiss-based Xstrata for a merger-of-equals with Anglo-American, plc, partner with Northern Dynasty in the Pebble project, is fading even from the back burner. Shares of both companies fell yesterday after the Société Générale downgraded both as prospects for a merger. Analyst Alain William said, “We are now convinced the deal is unlikely to proceed.” In June, Anglo rejected Xstrata’s proposal.

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