Xstrata And Glencore Merger Likely To Fail

Globe and Mail reported a merger between Xstrata PLC (LSE:XTA) and Glencore International PLC  (LSE:GLEN) will likely fail when it goes to a vote on Friday.

As quoted in the market news:

Commodities trading giant Glencore is offering a little over $30-billion (U.S.) in shares to take over Xstrata, the mining company that went public nearly a decade ago and which quickly grew into one of the world’s largest metals producers. Glencore is offering 2.8 shares in the new company for each share of Xstrata.

Click here to read the full Globe and Mail report.