Dear Klvnwng
There is little doubt in my mind that informal discussions will have taken place between Glencore and Xtrata.
Given Glencore's controlling interest, a takeover of the company can only be friendly, whether it be Xtrata or somebody else such as BHP. I suspect the issue with Xtrata is timing and/or price.
Certainly, Merrills have highlighted Minara on its 3 factors as a top 10 buy - and this certainly has helped the sp in the past week.
It is also possible that a hedge fund could take a material blocking position - don't forget Soros was in at $3.
Glencore is very much a nickel bull so their view will probably be that the sp won't be coming off soon.
Regards Eos
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