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Glencore back in the good books of Wall Street Add to ...

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In the late summer of 2015, Glencore was evidently sized up by the hedge funds as a potential Lehman Bros.

Debt at the world’s biggest commodities trader, and one of the biggest miners, was way too high, at almost $30-billion (U.S.). Prices for copper and other metals were sinking. The situation became critical when South African investment firm Investec on Sept. 28 of last year said Glencore’s equity value “could evaporate” if commodity prices did not rise and CEO Ivan Glasenberg did not implement a “substantial restructuring.”

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