Vedanta Resources PLC (VED.L)
28 Aug 2015
** Mining stocks, battered by a rout in commodity prices, get hefty boost from activist investor Carl Icahn disclosing a stake in diversified miner & energy producer Freeport-McMoRan
HONG KONG, Aug 26 (Reuters Breakingviews) - Anil Agarwal may have to rethink his latest effort to clean up Vedanta. The market value of the Indian tycoon's indebted mining group has fallen, thereby turning the small premium it was offering to minority shareholders of its cash-rich oil subsidiary Cairn India into a big discount. But sweetening the terms of the $1.1 billion all-stock offer looks tricky.
- Note: Reuters has not verified this story and does not vouch for its accuracy
** London-listed miner Vedanta Resources & unit Vedanta Ltd up sharply & both on track for sharpest intraday gain in around 3.5 mnths
LONDON - British mining company Vedanta Resources faces legal action in London's High Court after a group of Zambian villagers said their water source and farmland was polluted by the firm's copper mining operations.
July 31 - Mining and energy group Vedanta Resources Plc said power supply at its copper mines in Zambia would be cut by up to 30 percent.
* In talks with regulators and exchanges for Cairn merger (Adds CEO comments, details)
LONDON - Vedanta Resources' Gamsberg zinc mine is on track to produce ore from early 2018 and will partially replace output from its Lisheen mine in Ireland, which is due to close in November, the mining firm said on Monday.
MUMBAI - Cairn India Chief Executive Mayank Ashar said on Tuesday the firm's proposed buyout by parent Vedanta Ltd was "on track", brushing off demands from some minority shareholders for a higher price tag.
MUMBAI, July 21 - Cairn India Chief Executive Mayank Ashar said on Tuesday the firm's proposed buyout by parent Vedanta Ltd was "on track", brushing off demands from some minority shareholders for a higher price tag.