June 9 (Reuters) - Glencore Plc GLEN.L :
- Submits proposal to acquire Coal & Allied
- Submits fully funded proposal to acquire Coal & Allied and agrees conditional acquisition of Mitsubishi's interest in coal & allied mines
- To acquire Rio Tinto's 100 pct interest in Coal & Allied industries limited ("C&A") for $2.55 bln cash plus a coal price linked royalty
- Cash unit comprises $2.05 billion payable on completion and $500 million in deferred cash payments, payable installments of $100m over five years post completion
- Proposal will be funded from existing cash resources and committed facilities and is subject only to regulatory conditions
- If a deal is concluded, co to mitigate financial commitment via sale of assets of no less than $1.5 billion, including option of selling up to 50 percent of interest in C&A mines
News: RIO Glencore to buy Rio Tinto's stake in Coal & Allied for $2.5 bln
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Last
$116.33 |
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-1.160(0.99%) |
Mkt cap ! $43.18B | |||
| Open | High | Low | Value | Volume |
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|---|---|---|
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