Independent journal on economy and transport policy
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Glencore and Xstrata make official the ok to the fusion between equal
It will be created the fourth world-wide group in the field of the raw materials with a fair market value pairs to 90 billion dollars
February 7, 2012
The Swisses Glencore and Xstrata have confirmed today that the directive ones of the two groups have reached an agreement in order to put into effect a fusion of the two companies of the type "merger of equals" being created the fourth world-wide group in the field of the raw materials with a fair market value pairs to 90 billion dollars.
The understanding previews the emission of 2,8 new actions of Glencore for every Xstrata action, with a prize of 15.2% for the shareholders of this last one regarding the value of the title of last Wednesday.
In the 2011 revenues generated altogether from Glencore and Xstrata they are piled to 209,4 billion dollars with adjusted an EBITDA of 16,2 billion dollars.
"A fusion between Glencore and Xstrata - the managing director of Xstrata has commented, Mick Davis - offers the only opportunity to in response create a new model of business in our field to a scene in change".
The operation must be voted from at least 75% of the shareholders of Xstrata.
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The Swisses Glencore and Xstrata have confirmed today that the directive ones of the two groups have reached an agreement in order to put into effect a fusion of the two companies of the type "merger of equals" being created the fourth world-wide group in the field of the raw materials with a fair market value pairs to 90 billion dollars.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
