Vedanta backs $1.1bn buyout

Vedanta Resources has recommended investors accept the $1.1bn (£840m) buyout offer from its chairman Anil Agarwal, a transaction that will see it ditch its London listing. Mr Agarwal already owns a 66.5pc stake in the miner, and has offered $10.89 a share for the remainder of the business, through his family trust Volcan.