JPMorgan’s Henderson Says Glencore-Xstrata Deal Has ‘Huge Amount of Logic’

Glencore International Plc’s proposed combination with Xstrata Plc (XTA) has “a huge amount of logic,” said Ian Henderson, a fund manager at JPMorgan Asset Management, who helps manage $8 billion in assets including Xstrata shares.

Henderson has yet to decide on Glencore’s offer for Xstrata shares, he said in a telephone interview from Cape Town today.

“I don’t think it’s an automatic tick in the box saying this is a marriage made in heaven.”

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