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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration, Market

Qatar to block Glenstrata mega-merger

Posted on 31 August 2012

The Qatari sovereign wealth fund, the second-largest shareholder in Xstrata behind Glencore, said yesterday it will block the mega-merger between the two commodity giants.
Qatar has been fighting for an improved ratio on the 2.8 shares for every one existing Xstrata share offered by Glencore in February. It said in June that a ratio of 3.25 would better reflect the benefits of the merger. Glencore has so far resisted calls to up the share ratio, with chief executive Ivan Glasenberg calling the 2.8 ratio a “fair” deal………………………………………..Full Article: Source


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