Glencore's proposed $30 billion takeover of Xstrata came a step closer to collapse on Friday, as the commodities trader looked set to let slide an informal deadline for it to raise its offer and yield to rival shareholder Qatar.
While Friday is not the final death knell for one of the largest ever proposed deals in the sector, analysts, investors and sources involved in the talks said the fact Glencore and Qatar continued to stare each other down - with only two weeks to go before shareholders vote - had put the deal on the brink.
"It wouldn't be illogical to say this is 10 percent happening, 90 percent not happening," one source involved in the negotiations said.
No comments:
Post a Comment