The investment – worth up to £2 billion ($2.4
billion) in Anglo shares - is coming from Volcan Investments
Ltd, which is in turn owned by the Agarwal family trust. Given
that Anil Agarwal is the chairman and founder of Vedanta, the
transaction is likely to raise eyebrows in the metals and
mining community and have deal-hungry bankers salivating at the
prospect of further merger and acquisition down the line. But
Volcan has made it clear from the outset – partly due
to its obligations under the UK Takeover Code - that it does
not plan to launch a takeover bid for Anglo. It has also
stressed the investment is coming from the Agarwal family
trust. Even a few years ago, the potential for M&A activity
in the mining community was significantly higher. Miners had
been hard hit by the decline in commodity prices amid a
slowdown in China and...
