Deal drought for mining sector as prices plunge July 28, 2013 MINING deals have sunk by a third this year after tumbling commodity prices weakened interest in capital raising and acquisitions, a report out today shows. Mergers and takeovers in the global metals and mining sector – a key component of the FTSE 100 – fell 30 per cent between January and June, the third consecutive [...]
Glencore gets EU nod as it ends zinc deal November 22, 2012 GLENCORE won approval from EU antitrust regulators yesterday, as expected, marking another hurdle jumped for its £56bn mega-merger with miner Xstrata. The European Commission cleared the deal – which has taken a tense 10 months of negotiations since Glencore first approached Xstrata in February – but said that the commodity trader must scrap its exclusive [...]
Glencore and Xstrata deal edges closer to approval November 14, 2012 THE £56bn mega-merger between Glencore and Xstrata is edging closer to reality, after shareholders look set to give it the go-ahead. Qatar Holding, Xstrata’s second-largest shareholder, was last night reported to be on the verge of approving the bid from Glencore, although Qatar itself refused to comment. The reports came as investment bank Macquarie also [...]
Glencore set to win EU approval on Xstrata deal November 21, 2012 THE £56bn mega-merger between commodity giants Glencore and Xstrata looks set to clear another hurdle today, as EU antitrust regulators are expected to approve the deal. Glencore is understood to have improved its offer to secure an approval from European Commission antitrust regulators, which is set to be officially announced today. The commodity trading powerhouse [...]
London Report: Syria weighs on FTSE amid oil trade scramble August 28, 2013 THE UK’S top share index fell yesterday, pressured by the risks of possible Western military action against Syria, but with energy stocks supporting the market after an oil price spike. The FTSE 100 was down 10.91 points, or 0.2 per cent, at 6,430.06 points at the close as the United States and its allies appeared [...]
What the other papers say this morning – 13 August 2013 August 12, 2013 FINANCIAL TIMES Subpoenas issued over metals probe The US commodities watchdog has subpoenaed companies including Goldman Sachs, JP Morgan Chase and Glencore as it ramps up its probe into the metals warehousing industry. The subpoenas come amid a barrage of criticism in the US of activities in commodity markets. The CFTC requested documents by the [...]
Xstrata races to persuade investors on Glencore deal November 11, 2012 MINING giant Xstrata has redoubled its efforts to get investors onside for its merger with commodities titan Glencore. The board of Xstrata, which will put the latest version of the tie-up to shareholders on 20 November, took out advertisements over the weekend to publicly repeat its enthusiasm for the deal. With proxy voting on the [...]
Glencore may end zinc deal October 31, 2012 GLENCORE has offered to end a zinc sales deal with global producer Nyrstar to win EU approval for its £56bn mega merger with Xstrata. The European Commission said yesterday it had extended its review of the Glencore and Xstrata mega merger until 22 November, as it considers the competition impact of the merger between the [...]
Glencore wary despite a strong third quarter November 1, 2012 COMMODITIES trader Glencore yesterday warned of a cautious outlook, as it reported a strong performance in its marketing division. Glencore, currently in the final throes of a $56bn (£35bn) mega merger with mining giant Xstrata, said in a trading statement that overall performance in the third quarter was “good”, despite weaker commodity prices and tough [...]
What the analysts are saying about Chinese rebalancing and trade data August 8, 2013 What does this morning’s narrowing of China’s trade surplus and boost in imports and exports mean for the economy? This morning, it was revealed that China’s trade balance narrowed much more drastically than expected in July – to $17.818bn from $27.100bn (a fall to $26.200bn had been forecast). At the same time, Chinese imports rose [...]