Deals
Glencore Announces $1 Billion Share Buyback Days After Probe
- Buyback will last through the end of this year, miner says
- Glencore shares rebound, after slumping on DOJ probe
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Glencore Plc will buy back as much as $1 billion of its shares, a move that may soothe investor concerns after the world’s top commodity trader was hit by a U.S. Department of Justice probe earlier this week.
The buyback program will start Thursday and last through year-end, the Swiss miner and trader said in a statement. Glencore shares rose as much as 4.7 percent, the most since April.