Glencore could be looking at First Quantum takeover
Bloomberg's Olivia Sterns reports on what the next move of Glencore's Ivan Glasenberg could be now that Xstrata is in the bag.
Glasenberg is known as a voracious dealmaker and is said to prefer acquisitions over organic growth for the business which today ranks as the fourth largest miner.
It has long been proferred that Glencore would like to get its hands on Anglo American (Xstrata's advances towards Anglo was rebuffed a few years ago) which is trading at deep discount to other diversified mining companies.
But Canada's First Quantum Minerals – itself in the midst of takeover negotiations – and London-listed Eurasian Natural Resources Corporation have also been mentioned as possible targets.
Watch at Bloomberg