Glencore Will Probably Raise Xstrata Bid in Aug., Jefferies Says

Glencore Will Probably Raise Xstrata Bid in Aug., Jefferies Says

Gianluca Colla/Bloomberg

Pressure on Glencore to raise its bid intensified five weeks ago when Qatar Holding LLC, the biggest shareholder in Xstrata after Glencore with an 11 percent stake, said an offer of 3.25 shares was “more appropriate.”