$82 Billion Glencore Xstrata Megamerger Near
In what could be the biggest merger news of the year, Bloomberg reports that Glencore and Xstrata could be close to a merger:
- GLENCORE SAID TO BE NEAR AGREEMENT TO COMBINE WITH XSTRATA
- GLENCORE, XSTRATA MAY ANNOUNCE DEAL AS SOON AS THIS WEEK
- COMBINED XSTRATA, GLENCORE MAY BE WORTH $82 BILLION
- GLENCORE INT'L RISES AS MUCH AS 4.6% IN HONG KONG
It is unclear if this merger will suffer the same fate as the NYSE-Deutsche Borse, but if successful it will surely have a significant impact on commodity prices across the world as yet another monopoly is formed and changes the layout of the playing field once again. More interesting will be the response by the investment banks which have recently also gotten aggressively into the commodities space.
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