Mergers and Acquisitions Update: Glencore’s Xstrata Merger In TROUBLE, MCG SELLS Assets

The votes against the proposed Glencore International (GLCNF.PK) $70 billion merger with Xstrata Plc Adr (XSRAY.PK) are mounting, with investment fund Knight Vinke, which owns 0.51 percent in Xstrata, going along with Qatar Holding (12.3 percent) in opposition to the deal until the terms improve. Schroder (1 percent) said on Thursday that it will vote against as well, with Norway’s NBIM (2.97 percent) also holding out for better terms. Only 16 percent is needed by opponents to block the merger.

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InterActiveCorp (NASDAQ:IACI) purchases the ad-supported online dating site DateHookup.com for an unreported amount. DateHookup is the latest to appear in an InterActive portfolio of online dating sites, which also includes Match.com and OkCupid.com.

MGC Diagnostics Corporation (MGCD) has divested the software and support assets of its New Leaf division to Life Time Fitness, Inc. (NYSE:LTM) for a price of $1 million at the close, with an extra $235,000 to be paid over the next 18 months. At the same time, the firm also reported fiscal third quarter loss 3 cents per share, which is one cent more than a year ago.

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