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Glencore courts Qatar as Xstrata tweaks merger pay: Commodities

Posted on 28 June 2012

Glencore (GLEN) International Plc and Xstrata Plc (XTA), seeking to salvage the year’s biggest takeover, moved to appease dissident investors who have threatened to derail the 16 billion-pound deal ($25 billion).
Glencore yesterday met with Xstrata’s second-biggest shareholder, Qatar Holding LLC, over the sovereign wealth fund’s call for a 16 percent increase in the commodity trader’s bid, people familiar with the London talks said. Xstrata revised payments for executives intended to keep them at the combined company by adding a link to performance after holders attacked the bonuses as excessive………………………………………..Full Article: Source


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