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Glencore, Xstrata unveil Swiss mega-merger

AS EXPECTED, Glencore and Xstrata have announced a $US90 billion ($A84 billion) merger to create a mining and commodities trading behemoth. This also is the biggest global mining deal since Rio Tinto's $US38.1 billion takeover of Alcan in 2007.

Kristie Batten
Glencore, Xstrata unveil Swiss mega-merger

Glencore already owns 34% of Xstrata and will offer 2.8 new Glencore shares for every Xstrata share held, valuing Xstrata at $61.9 billion and representing a 15.2% premium to Xstrata’s closing price on...

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