London: Anil Agarwal, chairman of Vedanta Resources Plc, plans to buy as much as $2.4 billion of Anglo American Plc shares in the market after a merger proposal failed last year.
The purchase will be funded via a mandatory exchangeable bond issued by his holding company Volcan Investments Ltd and secured by Anglo American’s shares, the investor said in a statement on Wednesday. Agarwal, who founded Vedanta Resources, doesn’t intend to make a takeover offer for the company, it said. A representative for Anglo American declined to comment.
Continue reading this at the Source