Glencore International Plc’s offer for Xstrata Plc (XTA) has been made at “a fair price,” Chief Executive Officer Ivan Glasenberg said.
The bid price of 2.8 Glencore shares for each one in Xstrata was negotiated over a long time and he is “a little lost” as to why some Xstrata shareholders want that increased, Glasenberg said in a telephone interview today.
Glencore expected a few Xstrata shareholders to seek a higher offer price, he said.
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