mergers

Glencore has been hit by falling commodity prices, reporting a drop in pre-tax earnings of a quarter in the first half of the year, but will forge ahead with Xstrata merger plans despite a challenging backdrop.

Henderson is to close its Japan Absolute Return fund and merge away two other vehicles in the latest phase of its fund rationalisation process.

Old Mutual is preparing to cut 30 jobs as it merges Skandia Investment Group and Old Mutual Asset Managers into a single division.

Pfizer deal becomes third largest

Mining company Xstrata has formally announced its intention to merge with Glencore, the world's largest commodities trader, creating a commodities 'powerhouse'.

Banking and asset management giant Investec has confirmed it has made an offer for Williams de Broe owner Evolution Group.

Shareholders in Fidelity's Growth & Income fund have voted in favour of its merger into the MoneyBuilder Growth fund.

HOW TO PROFIT FROM THE RETURN OF M&A

The Singapore stock exchange is planning a £5.3bn takeover of its Australian counterpart in a deal which would create the world's fifth largest listed bourse.

The Arsenal boardroom power struggle could heat up after the club's fourth-largest shareholder appointed a firm to find a buyer for her shares.