Close, but no Qatar for Glencore?

It was a super-merger years in the making, but concerns over retention bonuses coupled with last minute demands from shareholder Qatar Holding has put the Glencore-Xstrata deal in doubt.

Over the past few weeks Glencore’s Ivan Glasenberg and Xstrata’s Mick Davis would have known their proposed $65 billion merger was in trouble, but would have believed it was salvageable. A development overnight, however, has pushed the deal to the brink of collapse.

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