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Glencore Xstrata Charms Investors With Cost Cut Promise

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Glencore Xstrata Charms Investors With Cost Cut Promise
AIRED:
It's the mining sector's biggest ever acquisition deal. The new company - combining trading giant Glencore and miner, Xstrata - was valued at $71 billion as its first day of trading got underway on the London Stock Exchange. It's promising bigger dividend payments to shareholders and says success will come from cutting unncecessary costs, as commodity prices cool.moreless
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