Glencore Xstrata Able To Play In M&A Market - Xstrata CEO

The combined Xstrata Glencore will have the capacity and flexibility to capitalize on new opportunities, including M&A deals, in the commodities markets, the chief executives of the two companies said Tuesday.

The company, to be formed by a merger of Anglo-Swiss miner Xstrata PLC (XTA.LN) and commodities titan Glencore International PLC (GLEN.LN), should be a "compelling" opportunity for shareholders, Xstrata CEO Mick Davis told Dow Jones Newswires.

"It is a unique animal that has opportunity to create enormous value," he said, adding that he has "no doubt" the deal will be one Xstrata's shareholders will be willing to support.

Glencore Chief Executive Ivan Glasenberg said that together the two companies will be able "to capture more of the opportunities our traders see around the market."

Davis meanwhile said he doesn't foresee a problem in getting the proposal through the required regulatory approvals, and expects to have approval "probably by mid-year, assuming shareholders accept the deal."

-By Rhiannon Hoyle, Dow Jones Newswires; [phone]; [e-mail]

Order free Annual Report for Xstrata PLC

Visit http://djnweurope.ar.wilink.com/?ticker=GB0031411001 or call [phone]