Reuters have gone early with the Anglo American counter bid story, suggesting Glencore is 'studying' the possiblity of submitting a rival approach for Anglo American.
The Reuters story follows some well timed comment piece by little old Betaville's chum Oliver "Shahsy" Shah of The Sunday Times, who suggested Glencore was the most lilely counter bidder
Below is a link to the Reuters piece:..
Mark "The Kleinmanator" Kleinman of Sky News has been on a bit of roll in recent weeks (although not sure he can claim the bragging rights for the Banco de Sabadell takeover bid story - wink wink) so I thought it might be worth pointing out some of the most interesting nuggests from this week's City AM column...
Punchy stuff from The Times.
The front page hamper story appear to be suggesting that FTSE 100-listed mining group Anglo American - whose shares have halved since Duncan Wenblad took charge - could become a takeover target, possibly for Glencore.
Now, to be fair The Times is basing the story on, er, a theory from a Jefferies analyst...
Glencore has just shown going "hostile" in takeover negotiations is one way to get what you want.
The FTSE 100-listed mining group has just announced a deal to buy 77pc of Teck Resources steelmaking coal division for $6.93 billion.
Canada's Tech Resources and Glencore, now led by Gary Nagle, came to the agreement after months of talks that saw the latter make an unsolicited offer in May for the whole of the former. Below is a link to this morning's announcement:..
There has been plenty of whining in the British press about the lack of takeover deals since the beginning of the year.
But over on the other side of Atlantic the multi-billion dollar deals keep on getting announced.
US-listed Bunge, for example, just announced the takeover of rival grain trader Viterra, in which FTSE 100-listed Glencore has a large stake, as part of $8.2 billion cash and stock deal. Below is the link:..
Trying to attempt one multi-billion dollar deal is hard enough.
But trying to pull two off at the same time might be considered impossible.
Well, apparently not for Glencore, the FTSE 100-listed mining group that has been pursuing an $23 billion hostile takeover of metals and coal mining company Teck Resources...
The British newspapers and American wire services were jammed packed with corking deal scoops this weekend.
The Mail on Sunday, for example, carried a line about a possible take private of embattled online retail group THG by founder and chief executive Matthew Moulding, the company's chief executive...
Bloomberg's top commodity writer, Javier Blas, appears to be suggesting that mining giant Glencore might have put itself "in play".
In case you don't recall, Glencore launched a hostile bid for Canadian rival Teck Resources ahead of the latter's demerger of its coal assets...
Today is turning into another Merger Monday. So far this morning it's been announced that:
1. Glencore has made a $23 billion hostile all-stock takeover offer for Canadian mining company Teck Resources Ltd. Below is a link to the Glencore announcement:..
Apologies loyal readers. It seems Betaville might have got slightly the wrong end of the stick when noting the Australian Financial Review's piece about the Glencore / Rio Tinto merger talk.
It would appear the AFR's Street Talk column is in fact suggesting Rio Tinto is looking at taking a run at Glencore and combination is more likely to lead to an £80 billion market capitalisation company. Below is the link to the AFR's piece:..