Financial News 9/7/12 - Glencore & Xtrata Merger, Kindle Fire HD, Prince Harry, US Open 2012
In a last effort to save a merger deal that was threatened by a shareholder revolt, Glencore raised its offer for Xstrata. Just as a meeting of Xstrata shareholders was under way in Switzerland, the big Anglo-Swiss miner announced that its board has received a new proposal of 3.05 Glencore shares, for each Xstrata share, an increase from the current ratio of 2.8. The proposal would also see Glencore Chief Executive Ivan Glasenberg become CEO of the combined company. He was to become deputy CEO under the prior structure and Xstrata chief Mick Davis was to have been CEO. The new offer breathes life into a deal that was headed for collapse after investors including Qatar Holding LLC, Xstrata's second-largest shareholder after Glencore, objected to the price. It seems however that this is by far not a done deal yet. Glencore and Xstrata are still in the process of securing regulatory approval for the merger, which they previously expected to close in the fourth quarter. Oh the suspense! This means war! The kind the we consumers like! Amazon unveiled its own version of computer tablet, igniting a price war in the computer tablet market, because apparently their device does not only have more features, but is also cheaper than Apple's iPad. But is it overall a cool product? So far the issue has been that no one can overcome the Apple product's coolness. Amazon's entry level Kindle Fire however does start at a more comfortable price range of $159. How well Amazon's cheaper <b>...</b>
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