Baosteel to edge out Xstrata in Anglo American?

Iron Investing News reports on Chinese steel and iron ore group, Baosteel.

Traders maintain that any deal with Baosteel could help Anglo fend off suitor Xstrata (XTA.L), which last week was told to make a formal bid for Anglo by October 20 or walk away for six months.

The opposition to Xstrata’s proposal for a nil-premium merger, which would create a company worth £40 billion is gathering steam.

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