{"id":10954,"date":"2012-05-31T22:29:10","date_gmt":"2012-05-31T20:29:10","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/glencore-xstrata-to-pay-almost-200-mln-for-advice\/"},"modified":"2012-05-31T22:29:10","modified_gmt":"2012-05-31T20:29:10","slug":"glencore-xstrata-to-pay-almost-200-mln-for-advice","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/glencore-xstrata-to-pay-almost-200-mln-for-advice\/","title":{"rendered":"Glencore, Xstrata to pay almost $200 mln for advice"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> May 31 (Reuters) &#8211; Glencore and Xstrata<br \/>\n will pay their advisers almost $200 million for counsel<br \/>\non the trader&#8217;s long-awaited $30 billion all-share bid for the<br \/>\nminer, a major earner for banks and others in a fallow year for<br \/>\nblockbuster deals.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Out of that, banks on the deal will get up to $130 million,<br \/>\nwith most of that coming from Xstrata, which will pay its<br \/>\nfinancial advisers as much as $80 million.<\/p>\n<p><span><\/span><\/p>\n<p>Glencore is being advised by Citigroup, Morgan Stanley,<br \/>\nCredit Suisse and BNP Paribas. Xstrata is being advised by<br \/>\nDeutsche Bank, JP Morgan, Goldman Sachs and Nomura, with a role<br \/>\nalso for Barclays Capital.<\/p>\n<p><span><\/span><\/p>\n<p>Both sides were advised by an independent consultant, former<br \/>\nCiti banker Michael Klein, who shuttled between executives to<br \/>\nbroker the deal.<\/p>\n<p><span><\/span><\/p>\n<p>Documents sent to shareholders of both companies on Thursday<br \/>\nconfirmed the terms of the bid &#8211; 2.8 new Glencore shares for<br \/>\nevery Xstrata share held &#8211; and set a vote date of July 12 for<br \/>\nXstrata shareholders.<\/p>\n<p><span><\/span><\/p>\n<p>Glencore, which listed just over a year ago in a record<br \/>\nmarket debut, already owns 34 percent of Xstrata.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON May 31 (Reuters) &#8211; Glencore and Xstrata will pay their advisers almost $200 million for counsel on the trader&#8217;s long-awaited $30 billion all-share bid for the miner, a major earner for banks and others in a fallow year for blockbuster deals. Out of that, banks on the deal will get up to $130 million, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10954","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10954"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10954\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}