Xstrata (XSRAF.PK) drops its £29.2B ($47.4B) offer to merge with Anglo American (AAUKY.PK) into...

|About: Anglo American plc ADR (AAUKY)|By:, SA News Editor

Xstrata (XSRAF.PK) drops its £29.2B ($47.4B) offer to merge with Anglo American (AAUKY.PK) into one of the world's largest mining companies, five days before the U.K. Takeover Panel's "put up or shut up" deadline. Xstrata can't make another bid for six months without Anglo's agreement or another company getting involved, and Anglo can proceed with any planned restructuring.