Xstrata’s (XSRAF.PK)(XSRAY.PK) directors are looking at a Monday deadline for their decision on Glencore International’s (GLCNF.PK) takeover offer and are working out a deal that could hopefully ensure that their firm keeps control of a combined entity’s board. However, the ordeal of reconciling wide-ranging shareholder views suggests that they might yet again request more time.
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In Friday’s news regarding Cnooc Limited’s (NYSE:CEO) now-famous proposed acquisition of Canada’s Nexen (NYSE:NXY), it seems that the former might be required to increase investments in Canada in order to secure that country’s government approval for such a takeover, say sources to Bloomberg. The problem is that increased investments could push up Cnooc’s operations costs for an acquired Nexen while costs for oil sands producers are rising along with a growing North American crude supply and a dearth of pipeline infrastructure.
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