Shareholders Agree Glencore Xstrata Deal
It's one of the biggest acquisitions the commodities sector has ever seen. Glencore will pay 31 billion dollars for mining giant Xstrata. Shareholders dealt a blow to Xstrata's board, ushering through the takeover and vetoing a directors' pay plan. The company's chairman John Bond announced his resignation soon afterwards. The votes brought to an end years of tense merger talks between Xstrata and its largest shareholder, paving the way for a mining and trading powerhouse.
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