Sun, 05/27/2012 - 05:33 EDT - Reuters - Business News
LONDON (Reuters) - Glencore will this week move into the final stage of its long-awaited $30 billion takeover of miner Xstrata, as shareholders are sent detailed documents on the deal, kicking off a last charm offensive ahead of July votes.
Glencore will this week move into the final stage of its long-awaited $30 billion takeover of miner Xstrata, as shareholders are sent detailed documents on the deal, kicking off a last charm offensive ...
LONDON (Reuters) - Britain's takeover regulator has granted global miner Xstrata and trading house Glencore an extra week to allow Xstrata to further consider its response to a $36 billion revised bid from Glencore.
LONDON (Reuters) - Xstrata is this week set to reveal a bonus package worth tens of millions of pounds in an effort to retain its chief executive ahead of its merger with Glencore , the Financial Times reported on Monday.
A shareholder vote to seal the proposed multi-billion dollar merger of Swiss commodity giants Glencore and Xstrata has been pushed back to September, press reports said on Monday.Shareholder meetings have been postponed from mid-July amid negotiations between Glencore and Qatar Holding, one of Xstrata's largest shareholders, the Financial Times said.A Glencore spokesman declined to comment when contacted by AFP.Mining group Xstrata will this week publish revised terms of the deal, according to the British daily which cited three people familiar with the case.
Commodity giant Glencore insisted Monday that its takeover offer for Swiss-based miner Xstrata that would create a commodities behemoth is at a fair price despite some calls for an increase."This is a merger of equals. We believe that the price given for Xstrata is a fair price. A merger of equals generally doesn't give a premium," Glencore CEO Ivan Glasenberg told AFP in an interview from Baar, Switzerland.