Glencore considers reverse takeover of XstrataThis is interesting and would create quite the mining powerhouse...... (LGO's offtake partner for Maracas is Glencore)
lurk
News
Monday, 22 Jun 2009
Glencore considering a reverse takeover of Xstrata - Report
Monday, 22 Jun 2009
Daily Mail reported that Glencore is considering a reverse takeover of mining giant Xstrata as an alternative to a possible stock market listing. It already owns 35% of Xstrata and an acquisition would generate significant synergies between the groups and provide a route to a public listing.
Glencore's relationship with Xstrata is already extremely close. Mr Willy Strothotte chairman of Glencore and Ivan Glasenberg CEO of Glencore are both non executive directors of Xstrata.
(Sourced from www.dailymail.co.uk)