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Anglo American has rejected an approach from its rival, Swiss-based international mining giant Xstrata, calling its proposal to merge "totally unacceptable". ┬á┬á Anglo American said that yesterdayÔÇÖs proposals, which Xstrata called a ÔÇ£merger of equals" between ÔÇ£two world-class companies" lacked "strategic merit". ┬á In a statement, Anglo American said its board has ÔÇ£regularly reviewedÔÇØ its strategic options, including the possibility of a merger with Xstrata, in order to progress its objectives.

Swiss-based international mining giant Xstrata has approached rival Anglo-American about the possibility of what it calls a ÔÇ£merger of equals.ÔÇØ XstrataÔÇÖs chief executive recently sent a written proposal to the board of Anglo American proposing a merger, saying that a union of "these two world-class companies" was "highly compelling." ┬áA merger between the two would make a great deal of sense, according to industry observers, because of the vast cost savings that could be made.

Swiss-based international mining giant Xstrata has approached rival Anglo-American about the possibility of what it calls a ÔÇ£merger of equals.ÔÇØ XstrataÔÇÖs chief executive recently sent a written proposal to the board of Anglo American proposing a merger, saying that a union of "these two world-class companies" was "highly compelling." A merger between the two would make a great deal of sense, according to industry observers, because of the vast cost savings that could be made.