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Globe and Mail reported Glencore’s (LSE:GLEN) offer for Xstrata (LSE:XTA) is gaining backlash as the boards battle it out for who will own a bigger share in some of Canada’s nickel mines.
Globe and Mail reported Glencore’s (LSE:GLEN) offer for Xstrata (LSE:XTA) is gaining backlash as the boards battle it out for who will own a bigger share in some of Canada’s nickel mines.
As quoted in the market news:
Size limits the field for a full bid. Topping Glencore’s offer by 20 per cent would value all of Xstrata’s equity at about £45-billion ($71-billion U.S.), with another $8.1-billion in net debt. So only three global miners are credible gatecrashers – BHP Billiton, Rio Tinto, and Brazil’s Vale.
Click here to read the full Globe and Mail report.