News Headline Summary

Xstrata (XTA LN) shareholders approve Glencore (GLEN LN) offer without bonus payments

- 78.88% vote for scheme subject to revised management incentive, the main point of contention for Xstrata shareholders in approving the deal.

Reaction details (09:37)

- GLEN shares rose 0.74% in reaction, last trade at GBP 3.33.
- XTA shares rose 2.52% in reaction, last trade at GBP 9.71.

Analysis details (09:57)

- Retention packages were the main point of contention for Xstrata shareholders in approving the deal. A vote to decide what retention packages will be paid is expected later today.

20 Nov 2012 - 09:34 - - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: