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Breakingviews: Accept Glencore's offer!

Monday, September 10, 2012 - 03:20

Sept. 10 - Xstrata investors will want more than Glencore's $36 bln bid but it's hard to see a realistic alternative offering better value, argues Reuters Breakingviews.

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Don't sort of breaking news this morning Xstrata should accept ankles legs his criticism that it's Chris -- Hughes joins me now morning Chris I'm. This is just a confirmation of what we knew Friday rimes I'm. And you are saying except the -- move on is not getting any -- Well there's a slight tweak -- more -- on Friday with England who was there and -- for more bodies. Next ourselves with the largest share of the combined entity. But the thinking on Friday was that the key changed on the government's line. -- in place and the playing -- C I was gonna be see the combined company. Mick Davis six straws to see I was going to leave it now turns -- has been a little tweak. Is -- as well the proposal if it's accepted Harry would see. It Davis they -- for six months and actually you know it. Take another -- as you step as -- long -- a lot of animosity and no beating around this whole transaction. But now does -- look at a friend's. -- -- getting good value. On our analysis the -- shareholders would be getting. In oh with all its images from this come and get some. There is clarity. The leadership now is -- it's it's it's not great that I mean Davis isn't the isn't that a majority. -- stays on right dull moments happen a lot of having -- the -- he recommended the original score often well. I'm sure there are few people who are unhappy with him for a for accepting I mean -- -- of what you need to do to these children and his. Q is it out of this process has been pretty cool. It's. You know I guess it's consistent with the lowest premium being off. -- court doesn't take him in time boards and has visited Korea continuity that that being little -- and you know obviously if mr. Davis -- about let's get real here. Are the blaze that -- -- -- all Brady and they via magic combination listening -- Right two of these active roles. So. Right it's David stays on for a short time on the -- on then there is the worry is that are too because there's been so much. -- hostility around this whole transaction to close Davis will be leaving what does that mean for the -- that talent into a -- because but she. Now let's face the united -- six months and knowing you're leaving Tom. Is not -- well it was smooth thing. It easier it'll helps me that if the process I'm -- might undo some of the about feeling. It would in an ideal world to bring that to suggest that you find roles when it when the Davis and eleven -- but -- work together. And everything would continue -- just not realistic. About it and gets a consultation with the shareholders September 24 -- is -- real problems for some. I started a -- coming out will get a thought of breaking news editor Hugo Dixon. How what happens next in the -- resident drama how long before the trying to imagine whereas -- -- -- -- --

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Breakingviews: Accept Glencore's offer!

Monday, September 10, 2012 - 03:20