Deals
Syrah Rises to Record on Glencore Approach Report: Sydney Mover
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Syrah Resources Ltd., a graphite and vanadium developer, rose to a record in Sydney trading after a report the global commodity trader and metals producer Glencore Plc made an informal takeover approach.
Glencore, run by billionaire Ivan Glasenberg, may be willing to pay as much as A$2 billion ($1.9 billion) for Melbourne-based Syrah, the Australian Financial Review reported today, without saying where it got the information. Syrah gets informal takeover inquiries from time to time, though none “have progressed to formal discussions or resulted in any indicative offers being received,” the company said today in a statement. Francis de Rosa, a Sydney-based spokesman for Glencore, declined to comment.