Xstrata Holders Reject Glencore Option Linked to Bonus Payments

Xstrata Holders Reject Glencore Option Linked to Bonus Payments

Gianluca Colla/Bloomberg

Investors holding as little as 16.48 percent of Xstrata can block the transaction because U.K. takeover rules prevent Baar, Switzerland-based Glencore from voting its 34 percent stake in Xstrata.