 | ---Mining group Xstrata gave its long-awaited approval today, to a revised $33 billion bid from trader Glencore, caving into pressure from investors, by changing the deal, to put a payment plan in place, to keep its top managers from leaving. Xstrata dropped its insistence that the overall deal should be tied to a shareholders' vote on the controversial package, which will offer over 70 top executives roughly $226 million, to make them stay put and continue their hard work. Through a complex structure of votes, investors will be able to express their views against the retention plan without endangering the merger, bringing the deal closer to a conclusion almost eight months after it was first announced. We can almost hear the sighs of relief. ---Authorities in Serbia are considering banning a gay rights parade and all other public gatherings in Belgrade this weekend, fearing a repeat of the violent scenes that took place two years ago when ultranationalists tried to disrupt a similar event. Prime Minister Ivica Dacic, who also serves as interior minister, said on Monday that the planned parade - which intends to promote gay rights in the predominantly Serbian Orthodox Christian society - was a major security risk. Serbia's Socialist-nationalist government, that came to power in July, is under pressure to demonstrate its readiness to protect human rights in order to keep the country's bid to join the European Union. Traditionally conservative societies across the Balkans <b>...</b> | Views: 0  0 ratings |
| Time: 02:59 | More in News & Politics |
Financial News 10/1/12 - Xtrata & Glencore Agreement, Mars Exploration, Gay Parade Serbia
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