Qatar MBA Grad Outflanking Glencore Shows Ambitions of State

The late-night negotiating session that led to a sweetened takeover offer by Glencore International Plc for Xstrata Plc on Sept. 7 included a former British prime minister and a swashbuckling commodity-trading billionaire. It’s possible neither was the most influential man in the room at London’s Claridge’s Hotel.

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