Xstrata-Glencore Deal Okayed, Yahoo!-TVGuide.com Speculation: Merger and Acquisition Update
Almost 80 percent of Xstrata’s (XSRAF.PK)(XSRAY.PK) shareholders have okayed the $31 billion takeover by the commodities trader Glencore International (GLCNF.PK), but a “golden handcuffs” retention plan for the firm’s key managers was not approved. The overall approval for the transaction came on the second of two resolutions. The first resolution would have approved the retention plan, but was not passed as it fell short of the necessary 75 percent threshold.
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Yahoo! (NASDAQ:YHOO) is said to be one of the companies that is looking hard at Lions Gate Entertainment Corp.’s (NYSE:LGF) TVGuide.com, the online entertainment listings, video and news site and mobile application, in a view towards a possible acquisition. Deadline Hollywood reported early Tuesday that the site’s owner was in “advanced negotiations” to divest it for approximately $20 million to one strategic bidder. Other sources opine that a deal, if any, is not in advanced stages as of now. However, Yahoo Chief Executive Marissa Mayer has said that Yahoo was looking at smaller acquisitions through which to round out its product repertoire, especially in the area of mobiles.