Rocky_Shorz
6th September 2012, 21:09
looks like Glencore might be shut down on the takeover bid...
A huge merger in the natural resources business is close to falling apart.
On Friday, shareholders in Xstrata, one of the world’s biggest miners of copper and coal, are to vote on an offer from Glencore International, which dominates the global trading of such materials. The deal, which values the combined company at $86 billion, would create a commodities behemoth whose activities touch all types of companies that need raw materials to make cars, mobile phones and other goods.
But Qatar Holding, a unit of Qatar’s sovereign wealth fund, is poised to squash the acquisition...
link (http://dealbook.nytimes.com/2012/09/05/qatar-imperils-big-merger-of-commodity-companies/)
and yes, this is the same Glencore that has been manipulating commodities and driving up pricing around the globe... looked like a front for banks by a public report, so they weren't caught with their hand in the cookie jar over commodities too...
Qatar standing up to London Bankers, this is getting good...
A huge merger in the natural resources business is close to falling apart.
On Friday, shareholders in Xstrata, one of the world’s biggest miners of copper and coal, are to vote on an offer from Glencore International, which dominates the global trading of such materials. The deal, which values the combined company at $86 billion, would create a commodities behemoth whose activities touch all types of companies that need raw materials to make cars, mobile phones and other goods.
But Qatar Holding, a unit of Qatar’s sovereign wealth fund, is poised to squash the acquisition...
link (http://dealbook.nytimes.com/2012/09/05/qatar-imperils-big-merger-of-commodity-companies/)
and yes, this is the same Glencore that has been manipulating commodities and driving up pricing around the globe... looked like a front for banks by a public report, so they weren't caught with their hand in the cookie jar over commodities too...
Qatar standing up to London Bankers, this is getting good...