KNIGHT VINKE TURNS UP HEAT ON GLENCORE

Activist fund Knight Vinke, a top-20 shareholder in miner Xstrata, yesterday backed a surprise call from fellow investor Qatar for better terms in a takeover offer from commodities trader Glencore, led by Ivan Glasenberg (pictured).Knight Vinke yesterday said the deal does not represent fair value for Xstrata on current terms and also objected to the fact no premium is being paid for a change of control.