Deals
Xstrata Climbs as Glencore Makes Final $35 Billion Takeover Bid
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Xstrata Plc rose to a four-month high in London as investors bet a 9 percent increase in Glencore International Plc’s offer for the Swiss mining company boosts the odds this year’s biggest takeover will be completed.
Xstrata, the world’s largest exporter of coal for power stations, advanced 1.2 percent to close at 1,026.5 pence, the highest since May 11. The Zug-based target of Glencore’s $35 billion offer will “consider carefully the proposal received and consult with major shareholders before responding,” it said in a statement today.