The takeover by commodities trader Glencore of mining giant Xstrata has turned unfriendly. But why does this merger matter?

Like former Barclays chief executive Bob Diamond, the bosses of Glencore and Xstrata are a breed apart. These mining and commodities trading giants, which are in the midst of a £37bn merger, have ridden an extraordinary boom in demand over the last 10 years and creamed off much of the profits for themselves and their shareholders.

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