Sad Oompa Loompa actor: I’ve been offered no mental health support since Willy Wonka fiasco in Glasgow
Glencore and Xstrata race to repair merger June 27, 2012 GLENCORE’S merger with Xstrata was on the rocks yesterday as the two firms scrambled to appease irate investors over the share ratio and pay packages linked to the deal. Mining group Xstrata yesterday rewrote its bonus rules for top staff to try and soothe shareholder anger at a £173m payday if the deal goes through, [...]
Xstrata sets 7 September for Glencore merger vote July 11, 2012 Miner Xstrata said 7 September was the new date for a shareholder vote on its planned $26bn takeover by Glencore, after changes to retention deals for executives forced it to push back a meeting initially planned for this week. The delay will give commodities trader Glencore, Xstrata’s largest shareholder, weeks more to hammer out a [...]
Qataris up stake in Xstrata after asking Glencore for better deal July 23, 2012 QATAR Holding, the second-largest shareholder in takeover target Xstrata, has added to its stake in the miner, in its first purchase since it made an unexpected demand for better terms from suitor Glencore last month. Qatar spent just under £5m to buy an extra 590,390 shares on Friday at £8.47 each, according to a regulatory [...]
KNIGHT VINKE TURNS UP HEAT ON GLENCORE July 3, 2012 Activist fund Knight Vinke, a top-20 shareholder in miner Xstrata, yesterday backed a surprise call from fellow investor Qatar for better terms in a takeover offer from commodities trader Glencore, led by Ivan Glasenberg (pictured).Knight Vinke yesterday said the deal does not represent fair value for Xstrata on current terms and also objected to the [...]
Glencore may force Davis out June 25, 2012 ONE OF Xstrata’s most prominent investors has turned up the pressure on chief exec Mick Davis, warning that he could be forced to resign as part of the tie-up with Glencore. Standard Life head of equities David Cummings, who has spoken out against the deal, told the BBC that “to preserve the integrity of the [...]
Glenstrata completion date pushed back January 18, 2013 Commodities giant Glencore has pushed back the completion date for its tie-up with rival Xstrata as it waits for regulatory approval from South Africa and China. Last month, the miners announced the extension of the “long stop date” for the £56bn merger from 31 December to 31 January. As regulatory processes in South Africa and [...]
Regulators delay Glenstrata merger until the new year December 10, 2012 LENGTHY antitrust regulatory processes in China and South Africa have forced commodities trader Glencore to delay the date for completion of its tie-up with miner Xstrata until the end of January. Glencore was expected to defend its case for the tie-up this week after South African power utility Eskom raised concerns the deal could affect [...]
Glencore completes zinc deal June 11, 2012 Commodities trader Glencore said yesterday it had completed its deal for zinc mining group Rosh Pinah. the company’s operations are centred in Namibia. FTSE 100-listed Glencore now has an 80 per cent stake in the company, which produced 89,000 tonnes of zinc concentrate and 16,000 tons of lead concentrate in 2011. Glencore said: “Rosh Pinah [...]
Xstrata exodus continues with Reid departure December 4, 2012 XSTRATA’S long-serving chief financial officer Trevor Reid is to follow departing chief executive Mick Davis out the door of the mining giant when the firm completes its merger with commodities business Glencore next year, it was announced yesterday. Reid, who was poached by Davis in 2001 to help turn the flailing business around, has decided [...]
Top dealmaker Hannam gets set for new advisory venture February 4, 2013 FORMER JP Morgan dealmaker Ian Hannam, one of the City’s most prolific M&A bankers, is in the early throes of setting up a new investment boutique advising companies in the mining, oil and gas sectors, it emerged yesterday. Hannam, who stepped down from his role at the bank last April to contest a £450,000 fine [...]