Ivan Glasenberg and Mick Davis have not even reached the altar, yet investors are celebrating a marriage. They assume that trader-cum-miner Glencore’s proposed $88bn “merger of equals” with diversified miner Xstrata is a done deal. But even if Mr Glasenberg’s Glencore and Mr Davis’s Xstrata can agree terms, there are reasons to ask whether this is merely a marriage of convenience.
伊凡?格拉森伯格(Ivan Glasenberg)和米克?戴維斯(Mick Davis)還未走到圣壇前,投資者們就開始慶祝他們的聯姻了。投資者認定,大宗商品交易商兼礦商嘉能可(Glencore)提議的與多元化礦商斯特拉塔(Xstrata)價值880億美元的“對等合并”,已然是板上釘釘之事了。但即便格拉森伯格的嘉能可與戴維斯的斯特拉塔能夠就合并條款達成一致,我們還是有理由問一問,這是否只是一場基于利益關系的聯姻。
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