Glencore merger talk is conjecture Xstrata's Davis
Dec 07, 2010 | 11:39 AM
Suggestions that Xstrata Plc will pursue a merger with main shareholder Glencore International AG are just conjecture, according to Mick Davis, the company's chief executive officer.
Glencore owns a 34.4-percent stake in Xstrata, and a number of analysts have argued that both companies would derive value from a merger.
But Glencore has made no attempt to initiate merger talks with Xstrata, Davis told shareholders at the company's annual meeting Tuesday in London. "The reports you've seen in the newspapers have been based on a lot of conjecture, and I can assure you I've had no proposition from Glencore about a merger," he said. "What I can say is that the management team and investors....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.