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GLEN Glencore Plc

354.60
-0.75 (-0.21%)
27 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Glencore Plc LSE:GLEN London Ordinary Share JE00B4T3BW64 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75 -0.21% 354.60 354.50 354.60 357.30 352.20 353.50 11,331,275 16:35:12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Nonmetallic Mineral Pds, Nec 217.83B 4.28B 0.3522 10.07 43.19B

Standard Life To Vote Against Glencore-Xstrata Unless Terms Improved

07/02/2012 9:36am

Dow Jones News


Glencore (LSE:GLEN)
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Standard Life Investments Tuesday said it will vote against plans for a merger of Anglo-Swiss miner Xstrata PLC (XTA.LN) and commodities titan Glencore International PLC (GLEN.LN) unless terms of the deal are improved.

"Although we see some merit in the merger of Xstrata and Glencore the proposed exchange ratio clearly undervalues Xstrata's assets and future earnings contribution. Consequently it is our intention to vote against the deal unless the merger terms for Xstrata shareholders are materially improved," said Standard Life head of equities David Cumming.

Xstrata Tuesday formally announced plans to merge with commodities titan Glencore to create a $90 billion, sector-straddling giant.

-By Rhiannon Hoyle, Dow Jones Newswires; +44 (0)20 7842 9405; rhiannon.hoyle@dowjones.com

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