p57 A logo of the Swiss mining company Xstrata is shown at the headquarters in Zug September 7, 2012. Commodity trader Glencore has raised its offer for miner Xstrata to salvage a bid, now worth about $37 billion, that appeared to be heading for the rocks after Xstrata shareholder Qatar held out for more. REUTERS
REUTERS
11 September 2012
Qatar today said it has not yet made up its mind on whether to accept Glencore’s $36 billion (£23 billion) takeover bid for mining giant Xstrata.
The sovereign wealth fund which is Xstrata’s second-largest backer and had planned to block Glencore’s original lower offer, said it had been asked to clarify its position by the Takeover Panel.
It added that it would “make its decision in due course after giving careful consideration to the implications of the proposed management changes, the other elements of the revised proposal and the views of Xstrata’s board”.
Xstrata shares fell 14.5p to 1012p.
