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Glencore may merge with Xstrata

    Glencore CEO Ivan. Benguela Rosenberg (Ivan Glasenberg) has revealed that the company is discussing a merger with Xstrata company.
    Glencore already has a 34% interest in Xstrata.Glasenberg In an interview with the Financial Times interview that the restructuring will help the two sides enhance the financial strength of Glencore in London and Hong Kong market has been "close."The current commodity market price is very good.
    Glencore has announced plans to sell 20% stake, worth about 100-120 million, the company's overall valuation of 600 billion U.S. dollars.Graham Rosenberg described a "opportunistic" acquisitions strategy, the acquisition of the scale will be much greater than in the past. However, Ivan. Benguela Rosenberg said the two sides have not reached any agreement on the matter.Financial Times reporter being asked why, he said, Xstrata seems to want to wait until Glencore in London and Hong Kong listing after the merger of the two sides in the discussion.
    Sources said that if Glencore listing, will set up a new board, new board of directors will consider the acquisition. Xstrata's board of directors and the shareholders will make the final decision.
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