Arab Today, arab today glencore stands firm on xstrata offer
Last Updated : GMT 15:39:15
Arab Today, arab today
Arab Today, arab today

Glencore stands firm on Xstrata offer

Arab Today, arab today

Arab Today, arab today Glencore stands firm on Xstrata offer

Washington - AFP

Swiss commodities giant Glencore clarified on Monday its revised proposal for a merger with Swiss mining group Xstrata, saying it would not up its offer a second time. But in a concession to Xstrata chief executive Mick Davis, Glencore said that he could oversee the handover before making way for Glencore chief Ivan Glasenberg after six months. Glencore, which confirmed on Monday that its increased merger offering represented 3.05 new Glencore shares for each Xstrata share, also said that it would pay \"appropriate\" bonuses to 73 key Xstrata managers. In a statement released on Monday, Glencore said its increased offer represented a premium of more than 27 percent \"and it will not increase the merger ratio further\". This is \"a substantial premium for a company with a 34 percent\" stake in Xstrata, said the statement by Glencore, based in the canton of Baar in the centre of Switzerland. Responding to the Glencore proposal, Xstrata said on Monday it would \"consider carefully\" the proposal before deciding whether to put it to shareholders, giving a deadline of 0700 GMT on Monday, September 24. Ahead of Monday\'s developments, the blockbuster merger of the two Swiss firms appeared compromised in analysts\' eyes over the amount Glencore was willing to pay to tie up the deal. The Qatar Holding investment fund, which is the single biggest shareholder in Xstrata with more than 12 percent of its shares, has consistently called since June for a rate of 3.25 Glencore shares for one Xstrata share. If completed, the merger would create a commodities behemoth worth around 69.8 billion euros ($87.3 billion) according to current market capitalisation.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today glencore stands firm on xstrata offer Arab Today, arab today glencore stands firm on xstrata offer

 



Arab Today, arab today
Arab Today, arab today Rabia Fatima reveals role of "Facebook" in her career

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday