Glencore expected to buy back Prodeco coal mines
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.
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.