Simon Buerk News
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Bolivia’s government took over Glencore International Plc’s Colquiri tin and zinc mine to boost its control over the mining industry.
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Glencore International Plc and Rio Tinto Group are among miners buying out companies in which they own stakes during the downturn in equity markets. Katanga Mining Ltd. and Extract Resources Ltd. may be the next targets, said Liberum Capital Ltd. and Ord Minnett Ltd.
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Glencore International Plc, the commodities trader acquiring Xstrata Plc, is seeking a credit line of as much as $6 billion before the deal is completed, according to three people with knowledge of the situation.
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First Quantum Minerals Ltd., Canada’s second-largest copper producer, gained the most in more than four months after U.K. newspapers speculated that the company may be a takeover target.
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Glencore International Plc may make a 12 billion-pound ($19.5-billion) bid for Kazakh metals producer Eurasian Natural Resources Corp. , the Sunday Times said.
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Glencore International Plc, the commodities trader acquiring Xstrata Plc, is seeking to refinance about $12 billion of credit lines, according to three people with knowledge of the matter.
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Glencore International Plc, the commodities trader seeking to acquire Xstrata Plc, set terms for loans to refinance about $12 billion of credit lines, according to two people with knowledge of the matter.
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Mick Davis, chief executive officer of Xstrata Plc, will head the company that would be created from the miner’s merger with Glencore International Plc, the Sunday Times reported without citing anyone.
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To complete the mining industry’s biggest takeover, Glencore International Plc may need to double the premium it agreed to pay Xstrata Plc’s owners.
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Glencore International Plc, seeking to buy Xstrata Plc for 24 billion pounds ($38.2 billion), is likely to raise its agreed all-share offer in April by as much as 18 percent, according to HSBC Holdings Plc.
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