Rice, wheat and barley, zinc, copper, and oil are among the vast range of raw materials it has a hand in passing round the world. Its own website summarises its breadth: "Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of metals and minerals, energy products and agricultural products.
As one of the world's largest mining and metals companies, its website explains it is "a major producer of seven commodities used in everything from constructing buildings and delivering electricity, to developing jet engines and mobile phones".
It is active in more than 20 countries and employs 70, people. The business would be number one in coal and zinc and lead - and is expected to become the biggest independent producer of copper. Winners and losers. But what's good for shareholders and executives isn't necessarily good for customers and manufacturers. When the merger was announced in February, Glencore laid out a ratio of 2. When it raised its bid, Glencore also altered the proposed new executive suite.
Rather than hand over the reins of the combined entity to Xstrata executives, Glencore wants more control over management. The original deal called for the Xstrata executives Mr. Davis; John Bond, chairman; and Trevor Reid, chief financial officer, to hold the same positions at the new company.
It is also about business expertise. Xstrata is a powerhouse in mining, with large positions in copper, coal and zinc production. While Glencore has some mining operations, its main focus is trading.
By Tim Fernholz Senior reporter. Published August 20, This article is more than 2 years old. Sign me up. Update your browser for the best experience. If Glencore were to buy all outstanding Xstrata shares at current market prices that would cost around 21 billion pounds.
Energy Updated. Glencore CEO dodges question on Xstrata merger.
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