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Investment funds in an era of financialisation Chapter 2. The governance, structures and incentives of investment funds — shaping a model of modern investment management Chapter 3. Corporate equity ownership and misplaced hope in institutional shareholder stewardship Chapter 4. Pension funds as corporate governance actors Chapter 5. Mutual funds as corporate governance actors Chapter 6.
Hedge funds as corporate governance actors Chapter 7. Private equity funds and their corporate governance actors Chapter 8. Sovereign wealth funds and their corporate governance roles Chapter 9.
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Conclusion: Beyond shareholder stewardship — visions for responsible investment management and a new corporate governance Bibliography Index. You do not have access to this content. Subscriber Login.
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Delete Cancel Save. Cancel Save. Takeovers must be approved within 60 days of an offer being made, according to UK Takeover Panel rules. The new terms offered by Glencore included an increase in the offer price from 2. In a statement released on Sunday night, Knight Vinke rejected Glencore's improved price, saying "the value of Xstrata is substantially more than Glencore is proposing today".
MERRILL ENDORSES $B VNU TAKEOVER BID
The mining company is due to generate a threefold increase in earnings over the next two years, the only one of its peer group to have such a growth profile, argued David Trenchard, vice chairman of Knight Vinke, which is a top 20 Xstrata shareholder with just under 0. Trenchard also called for a "substantial increase" to the price, offered and an "appropriate premium" given Glencore's offer has changed from a merger to a takeover, with a corresponding management overhaul, and now represents a change of control at Xstrata.
Another Xstrata shareholder, Richard Buxton of fund management group Schroders, has already rejected the terms, saying "the price is absolutely still too low". Glencore's new offer came on the day the boards of both companies had gathered in the Swiss town of Zug to vote on the deal, and at the very moment Xstrata's directors were due to take their seats. The Qataris are understood to be supportive of the mining group's successful management team.
Blair was asked to intervene after it became clear Qatar would lead other Xstrata shareholders in blocking the merger on the grounds that Glencore's offer was too low.