HOT COAL (XTA)

Xstrata have sealed a deal to buy their Australian mining rivals,MIM Holdings for £1.8 billion pounds which according to them will save £29 million in costs and open up a larger market for them in Copper and other earth bound goodies.
This deal,which they are financing through existing bank debt and via a three convertible bonds for two rights issue of £900 million, will see the coal mining group gain significant share in the antipodean metals market.

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