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TagsSource: Financial Times, 26th June 2012
The $65bn merger between commodities trader Glencore and miner Xstrata was this evening on the verge of collapse after the sovereign wealth fund of Qatar, the second largest shareholder in the miner, opposed the deal.
The unexpected announcement by Qatar Holding, which has a near 11 per cent stake in Xstrata, means that about a quarter of shareholders are against the deal’s current terms, more than enough to block the merger.
