Glencore would listen to offers for a takeover of the entire company but its management does not believe there are any buyers willing to pay a fair value for the business in the current market, The Telegraph has learnt.
The revelation comes after a week in which billions of dollars were wiped off the company’s shares following a series of damning analyst notes warning that its equity value could collapse should commodities prices fall further.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Read the full story Telegraph By Andrew Critchlow
UPDATE:
- Glencore seeks way out of crisis, In-Depth–Independent Online
- Isn’t Lehman Brothers Part II: It’s Not Economically …, Forbes
- Glencore ‘will listen to’ takeover offers, Business Insider
READ MORE:
Ivan Glasenberg
The implosion of the mining giant Glencore’s stocks on Monday gave CEO Ivan Glasenberg’s wealth a serious kicking, after shares tumbled 29.42%. The Bloomberg Billionaires Index says Glasenberg More…
Don’t tell Prof Thomas Piketty, but it’s apparently quite tough being a billionaire nowadays. The top 200 billionaires, a list headed by Microsoft founder Bill Gates (net worth $78-billion), have More…
Bill for executives’ purchase of shares may total $514 million Onflipside, officials have reaped $1.8 billion in dividends Glencore Plc’s billionaire CEO Ivan Glasenberg is on the hook for as much More…
Mounting pressure from investors has forced debt-laden commodities giant Glencore into a $US2.5 billion ($3.6 billion) equity raising to protect its investment grade credit rating, which is needed to underpin More…
Glencore Plc shares headed for the biggest weekly decline since the company went public in 2011 as the selloff in mining shares showed no signs of slowing. Glencore slid 5.9 percent on Friday, bringing losses More…
A multibillion-dollar merger between commodities conglomerate Glencore and mining giant Rio Tinto may take place this year as Glencore’s CEO is pushing for the deal, a report said. A Glencore-Rio tie-up would More…
Rio Tinto, desperate to avoid being taken over by Glencore, may buyFreeport McMoRan in a deal that is a “classic defensive move, ” according to Bernstein analyst Paul Gait, as reported by Seeking Alpha. Although More…
Glencore CEO Ivan Glasenberg executed the highly successful acquisition of Xstrata, and many wonder what he is going to buy next. While competitors are having to trim the fat, Glencore is flush with cash and can More…
Ivan Glasenberg’s Glencore signed the deal to sell Las Bambas to the Chinese in April, 2014, and expects to finally close by the Fall of 2014. – Today the shareholders of Australian based, Hong More…
