CAPITAL MARKETS

Anaconda shares surge on takeover rumours

ANACONDA Nickel's share price jumped 10c today following the sale of 6 million shares, or 2% of t...

James Hamilton

The sale went through at $2.75 and was handled by Solomon Smith Barney, a broking firm that has handled transactions for Anglo American in the past.

A spokesman for Anaconda Nickel said the company had had no contact with Anglo during the day and that calls to the company were not being returned.

The rumour mill has run rife in recent weeks following the Rio Tinto and Anglo bids for North and the De Beers tilt at Ashton.

Some analysts believe that Anglo is keen to take control of Anaconda at cheaper levels before its Murrin Murrin mine hits full production.

Conversely, some daily research notes point to WMC as a potential suitor for Anaconda.

The argument revolves along the line that Anaconda is a takeover fit not only for its nickel laterite potential, but for its ability to add complexity to any predatory ideas held by suitors looking at WMC.

 

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