Who Could Glencore Go After? (FCX, XTA.L)

Glencore's upcoming IPO has been much bandied about, as the Swiss company is seen as the "Goldman Sachs of commodities trading," and after the company goes public, it could be hungry for acquisitions.

CNBC is reporting that with the upcoming IPO, Glencore will finally have the ammunition to get the acquisitions it craves in order to continue growing strongly.

In an interview with the Financial Times, CEO Ivan Glasenberg said that given the company's "imminent" IPO in London, the company would be looking for strategic "opportunistic" acquisitions.

Glencore intends to sell 20% of the company for approximately $10-$12 billion, and that would value the company to be worth roughly $60 billion.

“The interest from the cornerstones was a lot stronger than we envisaged,” Mr Glasenberg said to the Financial Times in an interview. "Markets are in our favour too. We have a strong commodities market."

There has been much talk about Glencore's next move, and it could potentially mean a merger of Xstrata, of which the company holds a 34% stake in.

"We believe there is good value in the two companies being together," Glasenberg said.