Post date: Nov 19, 2012 5:1:59 PM
30 billion dollars - that's today's daily digit - the amount Glencore looks set to pay to take over Xstrata.
And European competition regulators are expected to finally give it the green light on Thursday.
After a roller coster nine months of wrangling between Xstrata and its top shareholders - the finish line is approaching.But BGC's Mike Ingram says, the challenges don't end here.
MARKET COMMENTATOR AT BGC, MIKE INGRAM:
The real issue going down the road is how is this mega merger going to be viewed in the economy in 3-5 years time? Is it going to mark the top of the cycle? Is it a defensive merger? Or is it a strategically progressive move?
The deal's prospects were boosted last week when Qatar - Xstrata's second-largest investor backed it.
They also surprised many by deciding to abstain from voting on Xstrata's attempt to keep key figures in place.
That plan isn't popular with investors either.
But victory for Glencore - in particular its boss and top shareholder Ivan Glasenberg - is now looking likely.
Chinese authorities still need to give anti-trust clearance
But the world's largest commodities trader has offered concessions to the EU and with shareholder approval looking likely, Glencore poised to clinch a $30 bln dollar deal of the decade.