Glencore raises offer for Xstrata
Commodity trader Glencore has raised its offer for miner Xstrata to salvage a bid, now worth about $37 billion, that appeared to be heading for the rocks after Xstrata shareholder Qatar held out for more.
Commodity trader Glencore (GLEN.UL) is expected to buy back its Prodeco coal mines from Xstrata for about $2.5 billion, analysts said on Thursday as the deadline loomed for a decision.