Glencore profit jumped on the growing commodity prices

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Source: BBC
Glencore has reported an essential increase in net profit due to higher commodity prices. Revenues for 2011 added 28% approaching 186.2 billion US Dollars while profit gained 7% attaining 4.06 billion US Dollars. Taken strong performance, the company started to accelerate merger negotiations with Xstrata. However, Glencore has not offered better merger terms and main shareholders of Xstrata said they would vote against, as the move undervalues the company.


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