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CVRD buy Xstrata obstruct by Glencore International

Monday, Mar 03, 2008
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Latest news said that CVRD may have a negotiation with Glencore International on the $85b takeover offer on Xstrata. Glencore International own 35% of Xstrata shares, it has proposed to to exchange this share by 10 years’ marketing right but reject by Vale. Vale agrees to exchange by 5 years. Information says that Glencore International profit is $6b, most of them is comes from sell iron ore and nickel of Xstrata and to get trade commission. Is this takeover succeed, Glencore hope they can still has this right. The two is negotiating to get an identical agreement.

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