Glencore, Xstrata Confirm Talks On Potential $80B Buy

Law360, New York (February 2, 2012, 7:01 PM EST) -- Commodities trader Glencore International PLC and mining giant Xstrata PLC on Thursday confirmed that they were in talks on a merger that could be valued at up to $80 billion, with Glencore facing a March 1 deadline to make a firm offer.

Glencore, which already owns 34 percent of Xstrata, and the miner have reportedly had off-and-on talks about a merger for several years. The trader, which went public in May, has been looking to add mines to its existing commodities trading operations.

But the two...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.