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...Glencore declined to comment on the letter....
...on the London Stock Exchange and the later, 2013 prospectus for its merger with Xstrata....
...Glencore-backed Horizonte Minerals has failed to secure financing to complete its nickel mine in Brazil following soaring costs and rising investor concern that Indonesia is flooding the market for the electric...
...The debt reduction plan aims to pave the way for the Swiss group to spin off a separate coal company in the second half of 2026, in what would be its most radical restructuring since buying mining group Xstrata...
...The mismanaged budgeting is a blow to Glencore, which holds 17.7 per cent of the company’s shares and is entitled to future supply from the mine for 10 years....
...It is even longer since these deals troubled the mining sector, where the last blockbuster was struck in the aftermath of the supercycle’s bust with Glencore’s takeover of Xstrata in 2013....
...If a deal is eventually agreed, it would be the sector’s biggest transformation since Glencore bought Xstrata more than a decade ago. Why make a deal now?...
...Glencore and Anglo own 44 per cent each of the prized Collahuasi copper mine in Chile, meaning a takeover would give Glencore near full control....
...“The Glencore case probably needs to be put back in context....
...A tie-up involving the two listed groups would be one of the most influential in the mining sector since Glencore’s acquisition of Xstrata in 2013....
...There are plenty of hurdles standing in the way of the deal, but if it goes through, it would be the largest tie-up in the mining sector since Glencore bought Xstrata more than a decade ago....
...Anglo and Glencore have manageable debt piles and can steer through this slow period....
...Its 5 times multiple of forward ebitda, before BHP’s approach, was about 15 per cent below BHP and Glencore, and 40 per cent under US-listed Freeport-McMoRan....
...Bluebell said this month that it had sold its stake in Glencore....
...Analysts and investors have predicted Anglo’s rejection of the offer will encourage competitors such as Glencore and Rio Tinto to table rival bids and BHP to improve its price....
...Last month, hedge fund Tribeca Investment Partners suggested that Switzerland-based Glencore — which has been listed in London since 2011 — should move its listing to Australia, arguing in a letter to the...
...HOLD: Glencore (GLEN) The mining and trading giant will still pay out another $2.2bn in “top-up” shareholder returns, writes Alex Hamer....
...Streeter said Glencore’s investments in copper and nickel, which will prove crucial to the energy transition, had piqued investor interest....
...Glencore is probably not, given everything else it has going on, but that has not always stopped it when an opportunity arises to add volume to its trading business....
...rejected the proposal, which provoked a backlash from the South African government and shareholders, raising the prospect of a bitter hostile takeover battle, possibly drawing in industry rivals such as Glencore...
...The offer — the largest made by Glencore since buying Xstrata in 2013 — marks one of the biggest takeover battles launched by a London-listed company in recent years, in addition to a return to dealmaking...
...The unsolicited offer represents the biggest acquisition attempt by Switzerland-based Glencore — the world’s most profitable coal miner and a major commodities trading house — since its merger with Xstrata...
...Those were the years in which Glencore, respectively, floated on the stock market in London and completed the takeover of Xstrata that diversified the trading house into mining and producing the commodities...
...Some of Rio Tinto’s rivals, including BHP, Newmont and Glencore, have started hunting for acquisition targets as the world’s largest miners position themselves for future growth....
...Monzo targets £4bn valuation in fresh funding round (FT) Crypto hedge fund accused of ‘criminal’ mismanagement in dispute over FTX (FT) About half of The Body Shop’s 198 stores expected to close (FT) Glencore-backed...
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