Bloomberg reported Xstrata Plc (LSE:XTA) says investors are quite confident Glencore International Plc (LSE:GLEN)’s $31 billion bid will get their approval.
As quoted in the market news:
Xstrata shares closed 2.93 times higher than those of Baar, Switzerland-based Glencore yesterday in London trading. The ratio reached a record of 2.96 on Nov. 16. Commodities trader Glencore sweetened its all-stock offer in September to 3.05 shares for each one in Xstrata to win support from Qatar’s sovereign wealth fund, holder of a 12 percent stake in the world’s largest exporter of power-station coal.
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