Glencore prepared to offer 3.05 shares per Xstrata share

Glencore's attempt to rescue the merger deal with Swiss mining giant Xstrata involves the upping of its offer to 3.05 Glencore shares per Xstrata share but also abandons the idea of this being a 'merger of equals'.

Glencore's attempt to rescue the merger deal with Swiss mining giant Xstrata involves the upping of its offer to 3.05 Glencore shares per Xstrata share but also abandons the idea of this being a 'merger of equals'.

The board of Xstrata revealed it has has received a provisional proposal from Glencore International to amend the terms of the proposed merger between Glencore and Xstrata.

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