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Business News of Monday, 26 January 2004

Source: Reuters

AngloGold-Ashanti deal clears U.S. hurdle

South African miner AngloGold said on Monday its proposer takeover of Ghana's Ashanti Goldfields could go ahead without the need to register its acquisition shares with U.S. authorities.

AngloGold, whose all-share bid values Ashanti at around $1.4 billion, said the U.S. Securities and Exchange Commission had confirmed that the new AngloGold shares could take advantage of an exemption from registration.

AngloGold said it expected the deal to be completed in April after approvals from Ghana'a parliament and government.