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World markets  |  September 10, 2012 09:09:50

Glencore increased its takeover bid for Xstrata about 10%

Glencore on Friday raised its offer for the shares of Xstrata from 2.8 to 3.05. The company responded to the last minute decision to Qatar Holding and other shareholders to block Xstrata merger, unless the offer increased. While Glencore suggests that after 6 months should be in the position of the combined company to replace chief M. Davis (now Xstrata boss) I. Glasenberg (now head of Glencore). Glencore said the new offer is not binding and may continue to change. Both companies responded by voting to postpone meetings. After the increase in supply is a high probability that the merger will be approved, but obstacles still be approved by the Executive Xstrata, which loses some of the promised positions in the new company.The report is slightly negative for Glencore shares, which will for Xstratu for approval to pay a higher price.

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Glencore navýšila nabídku na převzetí Xstraty o cca 10%

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