(Reuters) - Glencore is to buy the two thirds of Xstrata it does not own for an agreed 26.1 billion pounds in an all-share deal creating a commodities powerhouse spanning mining, agriculture and trading.
Following are details of the transaction:
* Glencore, the world’s largest diversified commodities trading house, will issue 2.8 new shares for each Xstrata share.
* That valued Xstrata shares at 1,290.1 pence, based on Monday’s close, for a 15.2 percent premium to their price last week before talks between the two companies were announced.
* The number of Xstrata shares in issue is 2,964,692,076, of which 1,010,403,999 are held by Glencore.
* A further 66,257,054 Xstrata shares will be created by the exercise of options linked to deferred bonus schemes, etc, giving a total of 3,030,949,130.
* That fully diluted total number of shares values Xstrata at 39.1 billion pounds, based on Glencore’s close at 460.75 pence on Monday and the 2.8 exchange ratio.
* Glencore, which has 6,922,713,511 shares in issue, will have to pay 5,657,526,366 new shares for the Xstrata shares it does not own. Those new shares were worth 26.1 billion pounds, based on Monday’s close.
* The enlarged Glencore will have around 12.6 billion shares, of which Xstrata shareholders other than Glencore will own 45 percent.
* The enlarged company will have a market value of around 58 billion pounds based on Monday’s closing prices.
Reporting by Dan Lalor, Editing by Mark Potter
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