Wednesday, 5 November 2014

A man called Klein

I have been ruminating on last week's piece in the Companies section of the Financial Times on the uber rainmaker Michael Klein. In case you missed it, here is a link to the piece by the excellent Daniel Schafer:

Schafer unearthed some extremely interesting history and quotes about Klein, who hit the headlines for supposedly advising on the $41 billion merger of Glencore and Xstrata as a one man band. Nice work if you get it.

And now it seems some bankers are pushing for the dealmaker to advise on Glencore's next potential tilt at Rio Tinto.

In the third paragraph of Schafer's piece, the report says: "now, with Mr Glasenberg setting his sights on buying Rio Tinto to try to create the world's biggest miner, some bankers are suggesting the chief executive of Glencore should turn to the rainmaker once again to seal the deal."

However, I have been told by some sources that Klein also advises Mick "the miner" Davis, who as we all know is looking to snap up some unloved mining assets via his new vehicle X2 Resources.

Don't be surprised, then, if Klein manages to bring Davis and Glasenberg together for their next mega deal...

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