Glencore CEO: Looking For Buyout Deals; Doesn't Address Xstrata-Paper
August 26 2011 - 1:58PM
Dow Jones News
Glencore International PLC (GLEN.LN) will keep looking for
buyout deals to snap up, Chief Executive Ivan Glasenberg says in an
interview appearing in Saturday's edition of Finanz und Wirtschaft,
shortly after the Swiss-based commodities trader launched a A$1.02
billion (US$1.07 billion) offer for Australian nickel miner Minara
Resources Ltd. (MRE.AE).
"We are always looking for acquisitions. The fact is,
competitors are dramatically cheaper now than they were six months
ago," Glasenberg is quoted in an advance print released Friday by
Finanz und Wirtschaft.
The Minara bid represents Glencore's first corporate takeover
since its May stock floatation.
Glasenberg declined to comment in the interview on whether
Glencore could lift its 34.5% stake in Anglo-Swiss miner Xstrata
PLC (XTA.LN).
-By Katharina Bart, Dow Jones Newswires; +41 43 443 8043;
katharina.bart@dowjones.com
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