27.06.2012 - Qatar SWF calls on Glencore to sweeten Xstrata offer
Sovereign-wealth fund Qatar Holding, which has amassed a substantial stake in Xstrata PLC , called on Glencore International PLC Tuesday to sweeten the terms of its merger proposal with the Anglo-Swiss miner. The surprise announcement by Qatar Holding places another obstacle in Glencore and Xstrata's quest to secure shareholder votes for their proposed merger of equals, which would create a mining juggernaut with a market capitalization of nearly $58 billion and assets in oil, coal, base metals, precious metals and agriculture. The merger has raised the ire of some shareholders who are unhappy about a hefty retention package that would be awarded to Xstrata's management as part of the deal...............................................Full Article: Source
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