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Xstrata Makes Long-Awaited Bid for MIM


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After month of waiting, Switzerland-based Xstrata has made an
offer to purchase Australia's M.I.M. Holdings for A$1.72/share.
MIM's board of directors agreed to the proffer which values the
company at A$4.9 billion and includes $894 million in assumed
debt However, to complicate matters, MIM's Managing Director
Vince Gauci has oral out against the proposal, saying it undervalues
the company.

MIM shareholders, who will devoted on the deal in early June are
reviewing an information memorandum that includes an independent
expert's evaluation of the company and Gauci's reasons for





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