, Glencore not to change Xstrata terms before vote
Glencore International Plc, a multinational commodity trading and mining company headquartered in a Swiss town of Baar, is not going to change terms of a of a $33 billion bid for Xstrata Plc, mining company, even though its shareholders have been pressing company’s officials to modify the offer four days before investors vote. Accordingly, a Glencore merger with Xstrata (“Glenstrata deal”) will probably not materialize unless companies are ready to reach a compromise. Main opponents to the current Glencore’s offer are Qatar Holding LLC and Xstrata’s investors. In addition, Sir John Bond, chairman of Xstrata, feels the breath of dissatisfaction on his back, if as expected the Glencore merger with Xstrata is voted down this Friday (7th of September); he might be pressured to step down from his position.
