Glencore makes offer for Xstrata shares

Commodities trader Glencore International has offered to buy the shares in mining group Xstrata that it doesn’t already own.

2nd February, 2012
Xstrata's headquarters

Commodities trader Glencore International has offered to buy the shares in mining group Xstrata that it doesn’t already own.

Glencore has made an all-share offer, Xstrata said today in a statement to the London stock exchange.

Glencore already holds a 34 percent stake in Xstrata and the rest of the company is valued at stg£21.9 billion pounds (€26.3 billion) based on yesterday’s closing price.

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