01 Sep 2012
(MENAFN) Qatar Holding has rejected the terms of the Xstrata’s proposed merger with commodity giant Glencore, confirming it would vote against the deal, Reuters reported.
Qatar Holding, who has been building stake in Xstrata since July, said it will not support the proposed merger terms of 2.8 new Glencore shares for every one existing Xstrata share.
The investment fund added that it would vote its entire holding at a shareholders meeting on September 7.
In February, Glencore unveiled plans to merge with Xstrata, creating a USD90 billion powerhouse in the commodities industry, but Qatar Holding, the second biggest shareholder in Xstrata demanded for better terms.
Qatar Holding said an exchange ratio of 3.25 Glencore shares “would provide a more appropriate distribution of benefits of the merger whilst recognising the intrinsic stand-alone value of Xstrata.”
Last month, Glencore CEO Ivan Glasenberg warned that the company may take off its offer if the terms were not right.
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more