Always an opportunity
Crispin Odey’s investment firm has said it will vote against any Anglo American offer for Sirius Minerals that is not designated as “final”.
In an email to the management of Sirius and Anglo American, Odey Asset Management said it does not believe that Anglo’s current offer represents fair value for Sirius shareholders.
Read more: Anglo American makes £405m bid for Sirius Minerals
It said it will therefore only commit to vote in favour of any bid priced at 7p or above.
Last month Anglo American agreed a £405m rescue deal with the board of the embattled company, who has been under pressure to come up with alternative funding for its North Yorkshire potash project.