South African Billionaire Glasenberg Fights Qatar Over Xstrata Deal |
| August 22, 2012 | August 2012 Bond Updates |
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The game of chicken between Glencore’s billionaire CEO Ivan Glasenberg and the Qatari sovereign wealth fund over Xstrata continues. While Qatari Holdings has been progressively building its stake in the miner to the point where it can block the merger unless they gets a better price, Glasenberg came out on Tuesday and said buying Xstrata is “not a must-do deal.” The showdown will have its climax on September 7, when Xstrata's shareholders are set to vote on the Glencore offer. |
| View more at: http://www.forbes.com/sites/afontevecchia/2012/08/21/glencore-vs-xstrata-pits-billionaire-glasenberg-against-qatars-sovereign-wealth-fund/ |
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