Glencore Boosts Offer To $36B To Save Xstrata Merger

Law360, New York (September 7, 2012, 2:07 PM EDT) -- Glencore International PLC on Friday upped the value of its offer for Anglo-Swiss miner Xstrata PLC to $36 billion in an eleventh-hour move meant to salvage merger plans put in doubt under the threat of shareholder upheaval.

The revised terms came to light just as Xstrata shareholders met to vote on the previous offer, which would have given them 2.8 shares in the combined company for every Xstrata unit. But in light of the fresh proposal — 3.05 new shares per Xstrata unit — the meeting,...
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