Sunday, January 9, 2011, 8:39 AM
Xstrata (XSRAF.PK) is close to winning an $8B auction for Colombia's second-biggest coal miner, owned by Drummond. Vedanta Resources (VDNRF.PK) and India's Essar Global had been interested, but Xstrata was apparently the only bidder who could fully finance an offer.
Wednesday, August 25, 2010, 8:28 AM
A senior official in India's oil ministry flatly denies state-run energy firms Oil & Natural Gas Corp. and GAIL India (GAILF.PK) may make a counteroffer for a stake in Cairn India (CRNCY.PK). There is "no chance" of a counterbid because the valuation from Vedanta (VDNRF.PK) is already "very high."
Monday, August 16, 2010, 8:20 AM
Vedanta Resources (VDNRF.PK) plans to buy up to 60% of Cairn India (CRNCY.PK) for up to $9.6B, gaining a controlling stake in a firm with the potential to generate around 25% of India's oil and gas production. Analysts are skeptical: Vedanta has no experience with oil & gas, and there will be few synergies with its existing business.
Thursday, August 12, 2010, 5:49 AM
Vedanta Resources (VDNRF.PK) is said to be in talks to buy assets or a multibillion-dollar equity stake in Cairn Energy (CRNCY.PK), a U.K. oil and gas exploration firm. It would mark a major strategy shift for metals producer Vedanta, which has had no experience with oil and gas exploration. In London trading, Vedanta -4.2%, Cairn +1.1%.