Xstrata Plc (XSRAF) - OTC Markets
XSRAF is defunct.
  • Jan. 22, 2013, 5:45 AM

    South Africa's Competition Tribunal Tuesday conditionally approves Glencore's (GLCNF.PK) $80B merger with Xstrata (XSRAY.PK) but limits the combined group's ability to lay workers off. Last week, the companies reached a deal with unions over any job cuts and with state-owned electricity producer Eskom Holdings about possible coal price increases. Now all the merger needs is approval from China.

    | Jan. 22, 2013, 5:45 AM
  • Jan. 18, 2013, 2:45 PM

    South Africa's Competition Tribunal ends hearings on the proposed merger between Glencore and Xstrata after state utility Eskom and labor unions withdraw their complaints, removing one of the last hurdles to closing the deal which would create the world's fourth-largest diversified miner. A final ruling from South Africa could still result in conditions being imposed upon the merger.

    | Jan. 18, 2013, 2:45 PM
  • Jan. 17, 2013, 4:34 PM

    Glencore (GLCNF.PK) and Xstrata (XSRAF.PK, XSRAY.PK) reportedly are seeking an extension on the deadline for closing their merger to allow more time to secure outstanding regulatory approvals. The companies have secured shareholder approval and regulator OKs from the EU and U.S., among others, but are still waiting for the go-ahead from South Africa and China.

    | Jan. 17, 2013, 4:34 PM
  • Dec. 24, 2012, 8:26 AM

    Xstrata (XSRAF.PK, XSRAY.PK) raises its estimate for the initial cost of the planned Frieda River project in Papua New Guinea by $300M at ~$5.6B, partly reflecting U.S. dollar depreciation in recent years which has lifted mining costs. The mine would be capable of producing an average of 304K metric tons of copper and 451K oz. of gold annually in its first five years.

    | Dec. 24, 2012, 8:26 AM
  • Nov. 22, 2012, 8:55 AM
    As expected, the EU approves Glencore's (GLCNF.PK) mega-merger with Xstrata (XSRAF.PK) without a prolonged review after Glencore offers concessions to allay EU concerns about the combined company's dominance in the European zinc market. Glencore will end a zinc sales deal with Nyrstar and sell its 7.8% stake in the world's top producer. The companies now need approval from China and South Africa. (PR)
    | Nov. 22, 2012, 8:55 AM
  • Nov. 21, 2012, 6:32 AM

    Glencore's (GLCNF.PK) mega-merger with Xstrata (XSRAF.PK) is reportedly set to win EU antitrust approval after Glencore met the main concerns of competition chief Joaquin Almunia by offering to end its massive offtake contracts with Nyrstar, a Swiss based zinc-smelting company. An EU decision over the merger is due tomorrow; it will then need approval in China and South Africa.

    | Nov. 21, 2012, 6:32 AM
  • Nov. 20, 2012, 11:05 AM

    Xstrata (XSRAF.PK, XSRAY.PK) chairman John Bond reportedly resigns after shareholders approved the merger with Glencore (GLCNF.PK) but without retention bonuses.

    | Nov. 20, 2012, 11:05 AM
  • Nov. 20, 2012, 9:48 AM
    Xstrata (XSRAY.PK, XSRAF.PK) shareholders vote to approve the Glencore (GLCNF.PK) takeover but fail to pass the first resolution that would have included the controversial golden handcuffs plan to retain key Xstrata managers. The retention plan will be voted on separately. Glencore shareholders voted earlier today to approve the merger.
    | Nov. 20, 2012, 9:48 AM
  • Nov. 20, 2012, 4:30 AM

    Glencore's (GLCNF.PK) shareholders unsurprisingly back the company's mega-merger with Xstrata (XSRAY.PK). The main action will come later today, when the latter's investors have their say, with a first meeting scheduled for 08:00 ET.

    | Nov. 20, 2012, 4:30 AM
  • Nov. 15, 2012, 10:22 AM
    Glencore's takeover of Xstrata looks set to go ahead after no. 2 shareholder Qatar Holdings backed the deal, but Qatar's decision to abstain from voting on the fat management retention plan complicates the position of Xstrata chairman John Bond, whose image isn't helped by the attempt to be "a little too cute" with his stance on the retention scheme.
    | Nov. 15, 2012, 10:22 AM
  • Nov. 12, 2012, 10:56 AM

    Standard Life Investments, a major shareholder of both Xstrata and Glencore, says it will vote in favor of the proposed merger of the companies but against the retention package. It expects the deal to close, based on indications that Xstrata shareholder Qatar Holding supports the merger and since shareholders can vote on the retention package without affecting their vote on the deal.

    | Nov. 12, 2012, 10:56 AM
  • Nov. 9, 2012, 8:32 AM

    Lonmin says it rejected a reverse takeover offer from Xstrata, and instead will move ahead with an $817M rights issue to repair its strike-strained balance sheet. Analysts had expected the platinum producer to raise more money to help it meet production targets, but instead it said it is focused on reducing costs, streamlining management and cutting debt.

    | Nov. 9, 2012, 8:32 AM
  • Nov. 8, 2012, 2:46 PM

    One of Britain's top shareholder advisory groups urges Xstrata (XSRAY.PK) investors to reject Glencore's (GLCNF.PK) takeover plan; it's concerned over the level of due diligence carried out on Glencore given the complexity of its business and insufficient independent board representation at Xstrata. U.S. advisory firm ISS at least partially warmed to the plan in recent days.

    | Nov. 8, 2012, 2:46 PM
  • Nov. 4, 2012, 3:25 AM

    UPS's (UPS) €5.16B acquisition of TNT Express needs "substantial remedies" to allay antitrust concerns, EU competition chief Joaquin Almunia has said, adding that the bloc's review of Glencore's (GLCNF.PK) bid for Xstrata (XSRAF.PK) is "well advanced." In addition to looking at high market share, which is "not always problematic," Almunia said, regulators look at the impact of a deal on pricing, quality, choice and innovation.

    | Nov. 4, 2012, 3:25 AM
  • Nov. 2, 2012, 4:31 PM

    The proposed merger of Glencore (GLCNF.PK) and Xstrata (XSRAF.PK, XSRAY.PK) receives a boost as shareholder advisory group ISS backs the new terms of the $80B deal and reverses some of its earlier comments. But ISS recommends against payouts Xstrata has put in place to retain its most senior executives.

    | Nov. 2, 2012, 4:31 PM
  • Oct. 31, 2012, 8:15 AM

    The EC extends its review of the proposed merger of Glencore (GLCNF.PK) and Xstrata (XSRAY.PK, XSRAF.PK) to Nov. 22 from Nov. 8 after Glencore made concessions to allay European Union competition concerns. Glencore reportedly has offered to sell some zinc assets; the combined company would be the world's largest zinc miner and fifth-largest exporter of hard coal.

    | Oct. 31, 2012, 8:15 AM
Company Description
Currently, there's no company description for XSRAF.
Industry: Electric Utilities
Country: United States