Glencore International Plc, seeking a $33 billion takeover of Xstrata Plc by the end of the year, may retain its credit rating at Standard & Poor’s after finishing the deal to create the fourth-biggest miner.
Highlights from market news:
- Glencore received European Union approval for its takeover of Xstrata last week
- Glencore is seeking to add Xstrata’s coal, nickel, zinc and copper operations to its cotton-to-crude-oil commodities empire
- S&P estimates the combined company’s earnings before interest, tax, depreciation and amortization this year to be $13 billion to $14 billion