In partnership with
  • Inside Labour: Minimum wage

    It is the workers’ labour that creates wealth and generates profits, says Patrick Craven.

  • Economic miracles

    Creating new money and lending or spending it wisely is key, say Edward Ingram and Riekie Cloete.

  • Strategy that works

    There are six steps to successful strategy implementation. Ian Mann looks at a roadmap to achieve this.

All data is delayed
Loading...
See More

Glencore lays out final bid for Xstrata

Sep 10 2012 08:35
Reuters

London - Commodities trader Glencore laid out its revised $36bn all-share bid for miner Xstrata on Monday, raising its offer as expected but warning it would not improve the terms further.

Glencore, the miner's largest shareholder, confirmed its offer was now 3.05 new shares for every Xstrata share held, up from 2.8. The deal provides for Glencore's own chief executive, Ivan Glasenberg, to take the helm of the combined group, again as expected, but only after an interim period under Xstrata's Mick Davis.

"Glencore confirms that it is an all-share merger, and it will not increase the merger ratio further," Glencore said

"The increased merger ratio represents a substantial premium for a company with a 34% shareholder."


*Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.

glencore  |  xstrata

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you want Finance Minister Pravin Gordhan to address during his budget speech?

Previous results · Suggest a vote

Loading...