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SAMPLE ARTICLE:
COMPANY X AND COMPANY Y SET FOR £80BN MINING MEGA-MERGER
Company X, the world's largest commodities trader, is set to merge with Company Y in a deal that is worth just over £80 billion.
The all-share "merger of equals" would create a commodities super-giant to rank with Companies A, B and C.
The City cheered the news, which sent both companies' shares soaring and will produce a bonanza in fees for financial and legal advisers.
It is understood that Londoner John Smith, chief executive of Company X, will become chairman of the combined group while Company Y chief executive Harry Jones will take the same role at the new group.
Smith collected £10 million in pay, bonuses and long-term share awards for 2011 and is estimated to be worth £50 million. Jones is estimated to be worth $7.2 billion (£4.2 billion) and to be the third richest Australian, according to Forbes magazine.
COMPANY X AND COMPANY Y SET FOR £80BN MINING MEGA-MERGER
Company X is set to merge with Company Y in a c. £80 bn deal, creating a commodities super-giant. Company X CE John Smith and Company Y CE Harry Jones will become joint chairmen. Smith is estimated to be worth £50 mn and Jones, £4.2 bn, according to Forbes.