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Glencore sticks to its guns on Xstrata merger terms

Posted on 06 March 2012

Commodities trader Glencore brushed aside requests from Xstrata investors to improve an agreed $37 billion bid for the miner, saying its existing offer was fair to all shareholders and emphasising its own growth prospects.
Glencore’s tie-up with Xstrata, in which it already owns a 34 percent stake, would be the largest deal in the mining sector since Rio Tinto’s acquisition of Alcan in 2007, but has faced opposition from some key Xstrata shareholders who say the terms do not recognise the company’s potential………………………………………..Full Article: Source


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