Deals
Glencore’s Xstrata Deal Threatened as Qatar Seeks Higher Offer
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Glencore International Plc’s 16 billion pound ($25 billion) offer for the rest of Xstrata Plc is in doubt after the target’s second-largest shareholder demanded the bid be increased by 16 percent.
Qatar Holding LLC, which built an 11 percent stake in Zug, Switzerland-based Xstrata since February at a cost of about $4.3 billion, wants the agreed offer raised to 3.25 Glencore shares for each of Xstrata’s, compared with the current offer of 2.8 times, according to a statement yesterday.