Bloomberg News

Glencore CEO Glasenberg Says Xstrata Offer Is a ‘Fair Price’

March 05, 2012

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.

To contact the reporter on this story: Jesse Riseborough in London at jriseborough@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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