SWEETENED BID: Commodities trader Glencore International PLC said Friday it is prepared to raise its offer to salvage a proposed $80 billion merger with mining company Xstrata PLC.
SHAREHOLDER RESISTANCE: Glencore has struggled to get sufficient support for its deal with Xstrata because its previous offer was resisted by Qatar Holding, a major Xstrata shareholder.
GETTING WARMER: Xstrata said that it had received a proposal from Glencore of 3.05 new shares for each Xstrata share, up from the existing offer of 2.8 shares. Qatar Holding had previously indicated it wanted 3.2 Glencore shares for each Xstrata share.
