Deals
Take Glencore Private If Market Unfair, Citi Says With `Buy'
- `The markets response is overdone,' Citigroup says in report
- Entire agricultural-marketing business may be sold, bank says
What’s Behind Glencore’s Freefall?
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If the stock market doesn’t stop hammering Glencore Plc shares, Chief Executive Officer Ivan Glasenberg should take the company private, according to analysts at Citigroup Inc.
“The markets response is overdone,” said Citigroup, which helped Glencore to list in 2011 and has worked on many key deals since. “In the event the equity market continues to express its unwillingness to value the business fairly, the company management should take the company private, whereby restructuring measures can be taken easily and quickly.”