Bloomberg reported that Glencore’s (LON:GLEN) offer for Optimum Coal (JNB:OPT) is valued at $1.2 billion.

The market news is quoted as saying:

A Glencore-led group plans to offer 34 rand ($4.85) a share, the Baar, Switzerland-based company said today in a statement. Optimum said it received a further approach, without identifying the potential rival bidder, and doesn’t view Glencore’s move as a firm intention to make an offer.

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