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Glencore offered 2.8 new shares for each Xstrata share in agreed all-share "merger of equal". It is the biggest mining takeover ever, and after approval would create an entity with 2012 sales of US$209 billion. [ 48 ]
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 ...
Xstrata (ISE: XTA.L) advanced 34 pence, or 3%, to 1,047 pence in early trade this morning after Glencore (ISE: GLEN.L) confirmed it had raised its offer for the miner to 3.05 shares.
LONDON -- Anglo-Swiss miner Xstrata (ISE: XTA.L) released its interim results this morning. The 27 billion pound firm, which is the subject of a "merger of equals" bid from fellow FTSE 100 group ...
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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]
Originally Xstrata CEO Mick Davis was to be CEO while Glasenberg would be President in a merger-of-equals transaction, however, due to holding out of major Xstrata shareholder Qatar, it became a takeover target, [16] with a 3.05 Glencore to 1 Xstrata Share exchange to create the new entity Glencore Xstrata with Glasenberg becoming CEO. Davis ...
When the proposed $90 billion merger between Glencore International and Xstrata was first announced, the seeds of its failure were first planted. Glencore already owned 34% of Xstrata and could ...