Mergers and Acquisitions Update: Glencore’s Last CHANCE, Peabody Bails On SALE

The much anticipated merger between Glencore International plc (GLCNF.PK) and Xstrata Plc (XSRAF.PK)(XSRAY.PK) might yet be saved, prior to Friday’s vote of the latter’s shareholders, according to the Wall Street Journal. Glencore has stated that it will not give in to the demands of the leading Xstrata investor Qatar Holdings and up its offer, but if it wants the company badly enough, it could relent.

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Peabody Energy Corporation (NYSE:BTU) has abandoned its $500 million divestiture of a thermal-coal mine in Queensland, having received no worthwhile offers, says Reuters. This latest move adds to almost $15 billion worth of proposals ditched or postponed in Australia in 2012, while prices for commodities decline. Another failed deal is Vale S.A.’s (NYSE:VALE) $500 million non-sale of a mine.

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