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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatar sticks to its guns on Glencore/Xstrata deal

Posted on 06 July 2012

Qatar, the second-largest shareholder in Xstrata, said on Thursday it was “firm” in its demand of improved terms from commodities trader Glencore, which hopes to take over miner Xstrata in a $26 billion deal.
Glencore, Xstrata’s top shareholder with an almost 34 percent stake, is offering 2.8 new shares for every Xstrata share held. Qatar - whose sovereign wealth fund has built an 11 percent stake in Xstrata since the planned takeover was announced in February - is demanding an improved ratio of 3.25………………………………………..Full Article: Source


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