You know how when you buy a brand new car and drive it back from the showroom, how it’s worth X per cent less by the time you get home?
Well, Ivan Glasenberg at Glencore Xstrata has worked out how to do the same thing with mining companies. Read more
From the Skyman, writing in his CityAM column on May 2…
GLENCORE BOARD SIZING UP HAYWARD
What is it about former BP chief executives and the top boardroom post at Glencore, the commodities trader?
Maybe this was inevitable after the Qataris said they would approve Xstrata’s merger with Glenstrata, but would abstain on the retention bonuses. But the raw numbers of shareholders here saying payments to management were excessive suggest a very aggressive mood amongst institutions. Remember, this is a revised incentive scheme, where shareholders were supposed to have been listened to…
The result from Xstrata’s shareholder meeting on Tuesday… Read more
Subject to the vote of Xstrata shareholders later on Tuesday, of course. And one or two regulatory hurdles remain. But while we wait for the XTA vote, here are the voting results of the Glencore shareholder’s meeting… Read more