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TheStreet Open House

Glencore Raises Bid for Xstrata: Hot Trends

Stocks in this article: AAPLGME

NEW YORK ( TheStreet) -- Popular searches on the Internet include Glencore as the commodities trader is attempting to salvage its deal with miner Xstrata by raising its offer for the mining company.

Glencore raised its offer to 3.05 new shares for every Xstrata share, up from 2.8. The bid is now worth about $37 billion.

According to Xstrata, Glencore's new bid entails that Glencore CEO Ivan Glasenberg would become CEO of the combined companies, instead of Xstrata boss Mick Davis, who was originally named to become CEO. Xstrata also said Glencore suggests changing the structure of the deal to get approval more easily from shareholders.

Glencore's bid for Xstrata nearly fell apart after Qatar, Xstrata's second-largest shareholder, said it would vote against the deal unless improvements were made.

Glencore has wanted a deal with Xstrata to create a large-scale mining and trading company. It originally made a bid for the company in February.






Apple (AAPL) is trending as the company has reportedly cut the amount of memory chips it is ordering for the new iPhone 5 from its main supplier and competitor Samsung.

Apple reportedly claims to be trying to diversify its memory chip supply lines and has been reducing its orders from Samsung. According to reports, Apple has chosen Japan's Toshiba, Elpida Memory and Korea's SK Hynix to supply memory chips for the first batch of the new iPhone 5. The reports indicate that Apple has dropped Samsung from its list of suppliers for the first batch altogether.

The two companies have been warring in court over patent disputes. According to the reports, their litigation is not the reason for Apple's decision to reduce orders for Samsung chips and that Apple has been looking to diversify its chips for some time.






Wikipad is another popular search. The new gaming tablet by Nvidia (NVDA) will hit GameStop (GME) stores on Halloween.

According to Wikipad CEO James Bower, the Wikipad is one of the thinnest, lightest and fastest tablets to hit the market. Wikipad is the first tablet with an attachable gamepad controller and is said to be able to deliver console-quality game play.

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