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Glencore Xstrata Merger Deal Agreed

  • Aired: 1/7/2012
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Synopsis >

It will be the biggest merger deal in the mining sector. Commodities trader Glencore has agreed to buy the remaining two thirds of miner Xstrata for $41 billion. If approved by shareholders it will create a company worth $90 billion which will rival mining giants Rio Tinto and BHP Billiton. The new group will have mining assets from Asia to Africa and will have the clout to look at other deals.

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