Mergers and Acquisitions Review: eBay BUYS Svpply, Glencore Offers MORE For Xstrata
eBay Inc. (NASDAQ:EBAY) buys Svpply.com, which is a site that provides a “curated,” photo-centric approach to shopping, while at the same time taking a cut on referral traffic. Svpply had 700,000 monthly users as of May. Some observers think that this acquisition represents eBay’s attempt to change its image, which is not really one of offering up a very polished and intuitive shopping experience.
As several observers had predicted as late as Thursday, Glencore International plc (GLCNF.PK) has now increased its offer for Xstrata Plc (XSRAF.PK)(XSRAY.PK) to 3.05 Glencore shares from 2.8. The new proposal is still below the 3.25 shares that the major Xstrata investor Qatar holdings originally insisted upon, but it has since abandoned that requirement. The latest offer emerged after Glencore got the crucial vote by Xstrata shareholders postponed just before it was about to take place.
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