GM rebuffs two-class share plan from Einhorn's Greenlight Capital
General Motors Co on Tuesday rejected a proposal by billionaire investor David Einhorn to split its common stock into two classes to help boost its share price.
LONDON Shares in global miner Xstrata XTA.L climbed 6 percent on Tuesday, with traders citing a media report that its takeover by commodities trader Glencore (GLEN.L) had cleared the final regulatory hurdle in China.
Glencore declined to comment.
Bloomberg, citing three people with knowledge of the matter, wrote on Tuesday that China's Ministry of Commerce agreed to the takeover and an announcement is expected later or on Wednesday.
Glencore was expected to agree to concessions to ease Chinese worries over its grip on the supply of copper, clearing the final regulatory hurdle in its acquisition of Xstrata.
Glencore shares rose 5.2 percent.
(Reporting By David Brett, Editing By Toni Vorobyova)
TOKYO U.S. nuclear developer Westinghouse Electric Co plans to seek bankruptcy protection from creditors on Tuesday as it struggles to limit losses that have thrown its Japanese parent Toshiba Corp into crisis, people familiar with Toshiba's thinking said.