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After more than a year of twists and turns and negotiations, the $75 billion merger between Glencore International and Xstrata became official today. The new company will also get a new name later ...
According to The Sunday Times, by 2006, Glencore controlled 40% of Xstrata stock and appointed Xstrata CEO, Mick Davis. [45] [47] In February 2012, Glencore International Plc, agreed to buy Xstrata Plc for £ 39.1 billion (US$62 billion) in shares. Glencore offered 2.8 new shares for each Xstrata share in agreed all-share "merger of equal".
Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. [2] It was a major producer of coal (and the world's largest exporter of thermal coal), copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome. [2]
On 18 May 2006, Xstrata had announced a proposal to acquire Falconbridge for $52.50 CAD per share. This was a cash offer, unlike the Inco offer of a combination of cash and shares. On 12 July 2006, Xstrata announced that it increased its offer to acquire Falconbridge to $59.00 CAD per share (an approximate total value of $22.5 billion CAD ...
LONDON -- The FTSE 100 perked up a bit yesterday to end the day on 6,558 points, but it has turned tail again today to fall 95 points, or 1.44%, to 6,464 by 9:30 a.m. EDT. Despite the apparent ...
LONDON -- The shares of Glencore Xstrata rallied 1% to 347 pence this morning after the newly merged commodities giant revealed an 18% increase in first-quarter copper production to 321,000 tonnes.
LONDON -- The attempt by Glencore (ISE: GLEN.L) to take over Xstrata (ISE: XTA.L) and create one of the world's largest mining and resources operations looked to be done and dusted. But the deal ...
In 2012 mining giant Glencore bought the remaining 66% share in Xstrata, taking over the McArthur River Mine. [13] In 2013, the Northern Territory Government approved another $360 million expansion that would double its size and production, extending the life of the mine to 2038. [ 14 ]