At Xstrata, Davis created a diversified mining company after completing deals with a total value of $33.6 billion. The biggest takeover was his $18 billion acquisition of Falconbridge Ltd. in Canada, the largest successful hostile bid in mining ...
Glencore's debt has been downgraded to one notch above junk by Standard & Poor's because of the “challenging outlook” for the mining industry and increasing uncertainty about demand from China, the world's biggest consumer of raw materials.
The company—formed in 2011 through a merger of Catalpa Resources Ltd. and Conquest Mining Ltd., and the concurrent acquisition of Newcrest's interests in the Cracow and Mt Rawdon mines, also in Queensland state—has a market value of A$3.6 billion.
The correspondence, mailed by “reputation management experts” Schillings, stated that Glencore's bosses were “extremely private individuals” and that any reports about their homes or private lives would pose a “security risk”.