'Glenstrata' merger at risk as Qatar drags its feet

Shares in Xstrata were under heavy selling pressure on Monday after Qatar Holding raised its stake in the miner, increasing speculation that the group could move to block its merger with commodities giant Glencore.

Shares in Xstrata were under heavy selling pressure on Monday after Qatar Holding raised its stake in the miner, increasing speculation that the group could move to block its merger with commodities giant Glencore.

It is widely known that the Qatari state investment fund and Xstrata shareholder demands a better deal from the near-$30bn tie-up, currently valued at 2.8 Glencore shares per Xstrata share. Qatar Holding wants the offer to be raised to at least a 3.25 multiple.

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