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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatar SWF calls on Glencore to sweeten Xstrata offer

Posted on 27 June 2012

David CummingSovereign-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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