Mick Davis departs Xstrata with nearly £75m

CEO known as ‘Mick the Miner’ pockets cash payments and share options after group’s takeover by trader GlencoreMick Davis, the departing chief executive of Xstrata, is to walk away from the mining firm after banking almost £75m as a result of the group’s takeover by commodity trader Glencore, which finally approved on Tuesday.Cash payments – […]
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Glencore/Xstrata battle likely to get bloodier

If Glencore is finally paying up, doesn’t Glasenberg have the right to take the top job? And wasn’t the original idea that he would work as Mick Davis’s deputy just a polite fiction?Welcome to the world of mergers and acquisitions, Mr Blair. You’ve picked a corker – a deal that threatens to become the nastiest […]
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Xstrata chief set to receive £35m

Key staff at mining group Xstrata are to share in more than £240m as a result of takeover by GlencoreKey staff at mining group Xstrata are to share in more than £240m as a result of the £60bn takeover by Glencore – including the chief executive Mick Davis who stands to receive nearly £35m.The payouts […]
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Glencore and Xstrata bosses team up for investor roadshow

Ivan Glasenberg and Mick Davis to begin global tour to coax shareholders into acceping their proposed £23bn merger dealIvan Glasenberg, the billionaire chief executive of the commodity trading group Glencore, will this week team up with Mick Davis, his counterpart at the miner Xstrata, in a renewed attempt to coax shareholders into accepting a proposed […]
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What a previous big mining club deal can show us about the Glencore offer

Xstrata’s shareholders are being asked to swallow hard and accept Glencore’s termsOne more thing about the miserly premium that Glencore has offered in its bid for Xstrata: it looks even less generous when you look at another huge all-paper transaction proposed a few years ago by a member of the big mining club.Andrew Keen, analyst […]
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