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Breakingviews: M&A for grown-ups?

Friday, September 07, 2012 - 04:43

Sept. 7 - Glenstrata drama is no way to do M&A say Reuters Breakingviews. Halting a shareholder vote after markets opened makes Glencore’s boss look more trader than statesman CEO.

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Heart breaking news today during koranic straws are not really anyways do lemonade with me is that Chris shoes I'm. Chris it's a bit of a mess is that I sort of saying it's low it's a lot of -- its 10 -- in the morning on Friday we've just had some headlines through. It's confusing stuff those headlines offices being up to three the merger ratio three point zero far rave. -- in court -- from two point dates. What was -- -- Let's let's recap from where Leo we would carry this morning. Possibly. This is looking for. Announcement saying that's been in -- do that's an agreement the most races. Has been. Up and agreed. Full expensing of things travel we've not had as you've had this. Late morning flurry of confusion. Which resulted in the with sultan thanks thoughts and saying look we've got to a new proposal. The not the recommendation of the new president new agreement. And apparently hasn't been made with the consent of ankle it's it's it's our business is -- from her story god wanted it shares suspended -- final look at Errol Louis Charlotte -- -- and hope trading I mean the market. The you know I think we beautiful students in cars and Tony but it's getting involved welcome -- as his love of the hit he may well be the -- -- That's who would -- this morning but I mean these assessments would be. An inevitable transaction you've got. And the book too -- -- 100 companies. Are advised buying is the most expensive high quality. Bankers and advisors in the -- did deal which is buying now. In that part of company that -- and by my -- and it ends like this. I'm in that you won't do what about what's our governors that Glenn cool -- -- and he's a trade. He's gonna trader mentality. You know he's he's acting and I could trade and he's got plenty of combined well and nothing -- the Jacques and so -- is that this is what what is alleged proposal coming from Oakland -- was -- hearing. That that is not from the clinical side but from the from the SR outside the presence. To revise the whole thing make it's I have a provide emblazoned. In charges and say. But but but but -- the restoration of some of the Atlantic extortion -- a bit more. Values. -- -- -- -- -- -- -- -- -- The the the qatari through -- off movement made it -- holdouts. Did they won't it's administration north of three Britain's threat. I think it was said that in mind because the trees so that maybe -- from -- -- and then there's a little also have not always from -- -- -- come about the protections in place. Around the governance. In as -- how important that most useful for use in the retention packages with Mick Davis the Mick Davis picked can -- out of the combined density. So suddenly we have a whole new governance arrangements are. The killer has -- which is. It's it's it's had a contrary to the whole philosophy of always being sold. Previously -- I don't mess that it's an annual mortgages and then that they bring these pointers this is no way to do it does not trust that is it's not -- that is no reason to institute to do them that it's it's about. Whole circumstances. Of the this deal if it really does go ahead I mean what we've seen is that that in it. It's quite hard to get all the stakeholders and shareholders and management. These two entities -- It's a -- seal point two I mean their fifth Libya. A cultural vicinity in terms of the trading mentality of clinical. On the mining group that's extra ounce you've got a lot of tents and that's built -- a lot of hostile to rest between the two sides there's the recent months now. -- car it's a lot and make -- happy -- -- it's -- -- cool about. Chris many thanks and that of course I will be following this story throughout the day. Reuters following breaking news we're following its assi and find -- battle on the -- -- platforms. Thanks aggressive more inside join meg US breaking news each weekday at 12:30 -- 1730 bsc. I'm acts of truffle with his license.

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Breakingviews: M&A for grown-ups?

Friday, September 07, 2012 - 04:43