The shareholder rebellion against Xstrata's (XSRAY.PK) $90B merger with Glencore gains speed as...

|About: Xstrata Plc Adr (XSRAY)|By:, SA News Editor

The shareholder rebellion against Xstrata's (XSRAY.PK) $90B merger with Glencore gains speed as Standard Life, Xstrata's fourth largest investor with 63.6M shares, says it intends to vote against the tie-up. "The proposed exchange ratio clearly undervalues Xstrata's assets and future earnings contribution," Standard Life says.