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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.