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Glencore: how did it go so wrong, again?

question mark ?

In the spring of 2011, when the commodities trading giant Glencore was on the verge of floating on the London stock exchange, media outlets received a pointed communiqué from one of the company’s law firms.

Xstrata's Chief Financial Officer Quits

Exit Sign

Xstrata's chief financial officer is to quit the miner following its takeover by Glencore, becoming the first director to abandon ship after investors failed to approve a gold-plated retention plan as part of the deal.

Glencore / Xstrata Battle Likely to Get Bloodier

Red River

Welcome to the world of mergers and acquisitions, Mr Blair. You've picked a corker – a deal that threatens to become the nastiest and most bitter we've seen for years. The decades-old friendship-cum-jolly-rivalry between Glencore's Ivan Glasenberg and Xstrata's Mick Davis already looks to be dead. And in the middle of the drama stand your friends from Qatar, who will settle the outcome.

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question mark ?

Glencore: how did it go so wrong, again?

In the spring of 2011, when the commodities trading giant Glencore was on the verge of floating on the London stock exchange, media outlets received a pointed communiqué from one of the company’s law firms.