News Headline Summary

Shareholders in Glencore (GLEN LN) vote in favour of USD 31bln proposed takeover of miner Xstrata (XTA LN)

- 99.4% of voting shareholders in Glencore backed the Xstrata deal.
- All resolutions proposed were approved.

Reaction details (09:14)

- Glencore shares are unmoved in reaction but at their highs of the day; trades GBP 3.31 last.
- Xstrata shares are also trading at their highest on the day at GBP 9.76 last.

Analysis details (09:19)

- Glencore is already Xstrata's largest shareholder and has offered 3.05 shares for every Xstrata share it does not already own.

20 Nov 2012 - 09:11 - Equities - Source: Newswires

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