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Glencore Xstrata PLC Seen Unlikely To Bid For OZ Minerals Ltd-Reuters


Sunday, 29 Sep 2013 10:42pm EDT 

Reuters reported that Glencore Xstrata PLC is unlikely to pounce on OZ Minerals Ltd, a banker who knows both companies well said on Monday, playing down a report in a British newspaper that said Glencore was weighing a GBP750 million ($1.2 billion) takeover offer. The Mail on Sunday reported that Glencore had acquired up to a 10% stake in OZ Minerals, citing City sources, and said OZ Minerals had appointed UBS as a defence adviser. OZ Minerals said on Monday it had received no proposal nor any substantial shareholder notice from Glencore. Under Australian rules, any investor directly holding at least 5% of a stock must disclose their ownership. 

Company Quote

316.95
-4.45 -1.38%
24 Oct 2014