Glencore Stands Firm On $25B Xstrata Bid As Deadline Passes

Law360, New York (August 24, 2012, 6:51 PM EDT) -- Glencore International PLC's deadline to increase its $25 billion stock offer for fellow Anglo-Swiss outfit Xstrata PLC came and went Friday, but the commodities giant did not bow to pressure from a Qatari private equity shareholder that has demanded a better price for its Xstrata shares.

The lack of action from Glencore — which already owns more than a third of the target company — ratcheted up tension over the Xstrata buyout that has been building since Qatar Holding LLC, a private equity firm that operates...
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