Global mining company Xstrata
has approved the proposed merger with commodities major Glencore
International in a deal that would create the world's fourth-largest diversified mining company. Around 79% of Xstrata shareholders voted in favour of a merger that excludes a controversial retention-pay package for executives. Analysts said the deal was a victory for active investors, who secured change on both the terms of the deal, thanks to Qatar, and on the retention plan, initially a key condition for the deal.
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