Glencore/Xstrata News, Supervalu Acquisition Chatter: Merger and Acquisitions Roundup
The shareholder advisory group ISS is backing the proposed merger of Glencore International (GLCNF.PK) and Xstrata (XSRAF.PK)(XSRAY.PK), which gives prospects for the transaction a boost. ISS supports the new terms of the $80 billion deal, and also takes back some of its earlier comments, but the group recommends against payouts that Xstrata has put in place in order to keep its most senior executives.
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Shares of the grocery chain Supervalu (NYSE:SVU) spiked before the Friday close on chatter that Cerberus Capital is in discussions to acquire all shares in the firm, so as to merge its operations with Albertson’s stores. Prior to this, Supervalu had announced a review of strategic alternatives and is now in active dialogue with a number of parties after having received several indications of interest.
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