Sun, Dec 11, 2016
A A A
Welcome vaishu
RSS

Commodities Briefing - Categorized | M&A, Metals and Minerals more

Giant mines merger set to fall through

Posted on 03 September 2012

Advisers to lose millions as Xstrata shareholders prepare to vote down £53bn deal with Glencore. Investment bankers working on the troubled Glencore-Xstrata £53bn megamerger will lose almost £70m in fees if, as expected, the deal collapses this week.
Big name banks working on both sides of the merger, including Citi, Morgan Stanley, JP Morgan and Goldman Sachs, were expecting to share a success fee pot of up to £82m when the deal was finalised. However, it is thought they will receive around 10 per cent of that, after shareholder Qatar Holding, which has recently built a 12 per cent stake in Xstrata, confirmed plans last week to effectively torpedo the deal………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 48800 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
banner
banner
December 2016
S M T W T F S
« Nov    
 123
45678910
11121314151617
18192021222324
25262728293031