Glencore down
By Ed Monk & PA
16 June 2011, 9:47am
(...)
Commodities trader Glencore suffered another dismal session, falling another 12.3p to 460.8p as it moved further away from its 530p flotation price
(...)
Read more: http://www.thisismoney.co.uk/markets/ar ... z1PRLTzJ9x
Glencore must wait to make ENRC move
Daily Mail
16 June 2011, 12:17pm
Commodities trader Glencore has been barred by the Takeover Panel from bidding for miner ENRC for six months, but industry insiders pointed out that the ruling changes very little.
The Swiss-based firm cannot bid for ENRC after chief executive Ivan Glasenberg denied reports of a £12bn offer.
The statement triggered a six-month block under the Takeover Code, although Glencore (down 27p to 473p) said it reserves the right to make a bid in the future.
But an industry insider pointed out that Glencore was in any case blocked from issuing new shares for six months from the date of its float.
Any offer for ENRC would require new shares to be issued, with Glencore unlikely to be able to afford a deal paid for in cash
Read more: http://www.thisismoney.co.uk/markets/ar ... z1PRKi01UN
"Ce que les hommes veulent en fait, ce n'est pas la connaissance, c'est la certitude" B.Russell (1872-1970)