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Glencore merger with Xstrata announcement expected imminently
Storey Link: Glencore merger with Xstrata announcement expected imminently
It is expected that today will see Xstrata board members tell the mining company’s share holders that they should agree to a merger with Glencore, the commodities trader. The UK Takeover Panel has set today as the deadline for a decision.
Glencore first announced its interest in a tie-up in May this year, but a disagreement over share...
10 per cent share fall at Essar Energy
Storey Link: 10 per cent share fall at Essar Energy
As reported by the BBC, India's Essar Energy shares have dropped by over 10% following the company’s reports of a post-tax loss for 2011. The firm saw a loss of $568 million for the calendar year, in comparison to its 2010 profit of $248 million.
The company said 2011 had seen many challenges, with weaker refining margins and a lower...
