Xstrata demands takeover premium

The independent directors of Xstrata are asking for more details on the eleventh hour change to merger proposals presented to them by Glencore on Friday morning, but they do not seem very impressed with what they have seen so far.

The independent directors of Xstrata are asking for more details on the eleventh hour change to merger proposals presented to them by Glencore on Friday morning, but they do not seem very impressed with what they have seen so far.

The shareholders of Glencore and Xstrata were both set to vote on the proposed merger of the two companies on Friday, but the votes were postponed after Glencore made a last minute alteration to the merger plans.

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