Deals
Glencore $31 Billion Deal for Xstrata Looking Completed: Energy
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Glencore International Plc’s $31 billion bid for control of Xstrata Plc has never looked so certain after the sovereign wealth fund of Qatar threw its support behind the biggest takeover of the year.
Qatar Holding LLC, the second-largest shareholder of the target, said it will back Glencore’s offer of 3.05 of its shares for each of Xstrata’s. Shares of Xstrata traded at 2.96 to those of Glencore in London today, the highest ratio on record and an indication investors expect the transaction to be completed.