Xstrata-Glencore merger will create mining giant
News of a merger between mining firm Xstrata and commodities trader Glencore has been given a mixed reception by investors.
Standard Life and Schroders - both big shareholders in Xstrata - say the deal undervalues their shares.
The £56bn merger will create one of the biggest mining businesses in the world, with a dominant position in many metals markets.
The BBC's Jeremy Howell looks at why the deal is so significant.