Zug, 2 February 2012
Xstrata plc (“Xstrata” or the “Company”) confirms that it has received an approach from and is in discussions with Glencore International plc (“Glencore”) regarding an all share merger of equals which may or may not lead to an offer being made by Glencore for Xstrata. There can be no certainty that any offer will be made.
In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the “Code”), Glencore is now required, by no later than 5:00 p.m. on 1 March 2012, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. The deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
This announcement is being made with the agreement of Glencore. Any further announcement will be made as appropriate.
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