Glencore raises offer for Xstrata
Trader Glencore has raised its offer for miner Xstrata in a dramatic 11th-hour effort to rescue one of the sector's largest ever deals from collapse after opposition from rival shareholder Qatar.
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.