Glencore, Xstrata agree to all-share merger

摘要

London-Commodity trading giant Glencore and Switzerland-based mining group Xstrata have agreed the terms for an all-share merger that will create a natural resources group with a market value of $90 billion, the companies said February 7. The merger will create a "natural resources super-major," Xstrata CEO Mick Davis told a conference call to discuss the Glencore merger. The merged company will be active in 18 commodities, with operations in 33 countries, and will be the fourth-largest global diversified natural resources company and the 10th-larg- est company on the London Stock Exchange's FTSE 100 index, Davis said.