A PYMNTS Company

U.K.: Glencore/Xstrata merger approved, mega-bonuses vetoed, chairman quits

By  |  November 20, 2012

Shareholders approved Tuesday the proposed $31 billion merger between Glencore International and mining company Xstrata, though proposed bonuses for top executives of the company – ranging in the multimillions of dollars – did not fair so well among the voters. As a result, the chairman in line for the merged entity, John Bond, announced that he will be resigning after the merger was complete. Approval from antitrust authorities is all that remains for the merger to get a complete green light.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Dealbook

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.