LONDON (AP) — Shares in mining company Xstrata PLC were up 12 per cent in early trading in London as the company confirmed that it had received a merger approach from commodities trading giant Glencore.
Xstrata said Thursday that Glencore had proposed an all-share merger of equals, but adds that there is no certainty of an offer being made.
Glencore already holds more than a third of the shares in Xstrata.
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