Deals
Glencore to Buy Caracal for $1.35 Billion to Gain Chad Oil
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Glencore Xstrata Plc, the global commodities trading and mining group, agreed to buy Caracal Energy Inc. for about $1.35 billion to take control of oil and gas assets in the central African nation of Chad.
The offer of 550 pence ($9.20) a share is a 61 percent premium to the closing price of Caracal shares on April 11, Baar, Switzerland-based Glencore said today in a statement. Caracal shares surged as much as 60 percent in London trading to 547 pence, the highest on record.