Qatar Holdings is trending as the Xstrata shareholder said it would back Glencore's $32 billion takeover of the miner. Qatar said it would vote in favor of two key resolutions on the takeover. However, the company said it would not vote on a management retention plan. That decision is a move that slights Xstrata's management as the plan is more likely to be voted down. While Xstrata has argued that the multimillion-pound retention plan is necessary to ensure key managers stay and contribute to the success of the merger, some Xstrata shareholders have criticized it as being too greedy. The plan provides more than 70 top executives a total of about $140 million pounds ($222 million). Xstrata investors are now able to vote on the management retention plan without endangering the takeover. Qatar's support of the deal brings the merger that much closer to completion.
Hostess Brands is another popular search. After workers went on strike on Nov. 9, Hostess said it would seek liquidation unless enough workers returned by the end of the workday Thursday Members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) went on strike in response to court-approved pay cuts. The company imposed a contract on Nov. 9 that would cut workers' wages by 8%. The union said their benefits would also be cut by 27% to 32%, per the contract.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.