Glencore ‘Aggressively’ Chasing M&A After Profit Jumps 57%

Glencore International Plc, the largest publicly traded commodities company, is “aggressively” studying mergers and acquisitions after reporting a 57 percent jump in first-half profit and as market valuations slide.

“We are an opportunistic company, we are in a fortunate position in that now we have the robust balance sheet to look at assets more aggressively,” Chief Executive Officer Ivan Glasenberg, 54, told reporters today on a conference call from London. “Companies are a lot cheaper,” he said. “It’s definitely, we believe, a very opportune time.”