Glasenberg: Glencore Could Abandon Xstrata Deal - Report
07/01/2012| 06:27am US/Eastern
LONDON--Glencore International PLC (>> Glencore International Plc) is prepared to walk away from his 65 billion dollar merger with merger with Xstrata PLC (>> Xstrata PLC) rather than be forced into overpaying for the deal, reports the Sunday Telegraph, citing Glencore's chief executive Ivan Glasenberg.
The Sunday Telegraph understands that Mr. Glasenberg, with a 15.8% stake in Glencore, is unwilling to increase the merger terms above those originally set down.
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