Glencore International (GLEN.L) is to make an off-market cash offer to shareholders in Australian mining company Minara Resources.

The offer values the miner at more than A$1 billion (approximately £635 million) and could lead to a the trader making a 100 per cent takeover.

Glencore currently holds approximately 73 per cent of the shares in the nickel miner and described the offer as 'an attractive premium' for existing shareholders.

The commodities trader said the offer would allow shareholders to realise their holdings. It added that an alternative takeover bid was unlikely given the size of the Swiss-based company's holding in Minara.

Shareholders who chose not to take Glencore's offer may also face reduced liquidity, the UK-listed trader warned.

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