Glencore/Xstrata Review Extended, Disney Buys Star Wars: M&A Update
The European Commission has extended its review of the proposed merger of Glencore International (GLCNF.PK) and Xstrata (XSRAY.PK)(XSRAF.PK) to November 22nd, after Glencore made concessions to assuage European Union competition worries. Glencore is said to have offered to divest certain zinc assets. Such a combined entity would be the world’s biggest zinc miner and also fifth-largest exporter of hard coal.
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There is much chatter within the entertainment industry regarding The Walt Disney Company’s (NYSE:DIS) acquisition of the Star Wars franchise for $4.05 billion. Barclays believes that the firm will monetize the property and push it through the Disney ecosystem, while both Wells Fargo and JPMorgan say that the deal is positive for future earnings.
Shares of Clean Harbors (NYSE:CLH) take off on Wednesday as shareholders may now respond to Monday’s $1.25 billion purchase of the oil recycling company Safety-Kleen, which in 2011 brought around $1.3 billion in revenue, representing approximately two-thirds of CLH’s total, along with $161 million in EBITDA.