Xstrata Make Bid to Take Control of MIM

MIM Holdings of Australia have just received an unsolicited approach from Xstrata plc. The proposed business transaction, would result in a change in the controlling interest if all goes ahead.

Both parties are in the early stages of discussion and no agreements have been reached as yet. There is also no certainty that any agreement will be arrived at.

The MIM board are being advised by Merrill Lynch and Gresham Partners on the Xstrata proposal. In the mean time they remain focussed on achieving growth and performance targets.

MIM Holdings is a mining and minerals based company specialising in copper, coal, lead-zinc-silver and gold.

For more information on copper, lead, silver or gold, click on the appropriate metal.