Quantcast

Treasurer Approves Xstrata Takeover of WMC

Get the WebProNews Newsletter:


[ Business]

Treasurer Peter Costello approved the takeover of WMC Resources by Xstrata keeping Glencore out of any role in marketing Australian uranium.

According to The Australian,

Mr Costello gave the green light to the takeover yesterday, but was forced to respond to a barrage of criticism about Xstrata’s close links with the shady Swiss-based company.

He made transparency in marketing one of five binding conditions on Xstrata taking over the Australian company, saying this would ensure that “the company that is responsible for the marketing, particularly in relation to uranium, is Xstrata itself”.

WMC’s starting price was set at Xstrata’s $7.20 per share offer.

WebProNews | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.

Treasurer Approves Xstrata Takeover of WMC
Comments Off
Top Rated White Papers and Resources

Comments are closed.

  • Join for Access to Our Exclusive Web Tools
  • Sidebar Top
  • Sidebar Middle
  • Sign Up For The Free Newsletter
  • Sidebar Bottom