The new Glencore offer is "significantly lower than would be expected in a takeover" and the intention to replace Mick Davis represented “a significant risk” says Xstrata's board.
Even before building up Xstrata through a series of billion dollar transactions, Big Mick was a formidable dealmaker who with fellow South African Brian Gilbertson created Billiton before selling it to BHP in 2001.
Glencore International (LSE:GLEN) has postponed its Friday shareholder meeting where voting would have taken place on its proposed $34 billion takeover of Xstrata (LSE:XTA).
Rio Tinto (ASX:RIO) has teamed up with Sydney's University of New South Wales to create the world's first virtual mine for the purpose of teaching block caving
The Toronto-based company said the bid of 48 cents per share in cash represents a 37% premium at the close of Petaquilla's trading on the Toronto Stock Exchange.
Instead of the lauded $6 billion in mining invested forecasted for 2013 earlier this year, SNMPE says the country’s sector will attract about $4 billion.