Xstrata, Glencore to Create Commodities Giant

Anglo-Swiss miner Xstrata PLC Tuesday formally announced plans to merge with commodities titan Glencore International AG and create a behemoth with a market value of $90 billion, but some investors immediately criticized the deal's terms.

The new company, to be called Glencore Xstrata International PLC, could dramatically change the face of the natural-resources industry. It would for the first time marry a major mining operation with a big trader of commodities from metals to oil and grains. It would generate more than $200 billion in annual sales from operations in five continents.

Should the companies pull off the deal, they would create an industry player with significant sway over how several crucial inputs in the global economic machinery are distributed and sold.

Read Full Article from Wall Street Journal

- Posted: 2012-02-07 14:36:47

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