Bloomberg reported that as mines restart, and Xstrata’s (LON:XTC) coal output increases, they continue to be a takeover target by Glencore International PLC (LON:GLEN).
As quoted in the market report:
Xstrata, seeking to boost production by 50 percent through 2014, on Oct. 1 recommended shareholders vote in favor of a sweetened Glencore offer after Qatar Holding LLC, with a 12 percent stake, said an original proposal was too low. Glencore raised its bid to 3.05 of its own shares for each one in Xstrata, up from 2.8. Xstrata gave no update on the deal today.