Glencore Vows To Stick To $36B Sweetened Xstrata Offer

Law360, New York (September 10, 2012, 3:27 PM EDT) -- Commodities trader Glencore International PLC on Monday confirmed it would stick to its $36 billion all-stock bid for Anglo-Swiss miner Xstrata PLC, but it remained unclear whether the sweetened bid would be enough to sway shareholders who have vowed to sink the deal.

Under the terms of its surprise revised offer, announced Friday, Glencore would give Xstrata investors 3.05 of its shares for each Xstrata unit. The latest offer is up from the 2.8 to 1 ratio proposed by Glencore in February to kick off what...
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