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Knight Vinke raises questions about Xstrata board independence

LONDON, Oct 1 (Reuters) - Activist investor Knight Vinke Asset Management, a top 20 investor in Xstrata , has criticised the miner's non-executive directors for failing to demonstrate sufficient independence in its protracted merger talks with trader Glencore .

The New York-based investment firm said the "merger of equals" recommended by Xstrata's board on Monday would in reality effect a change of control, with CEO Mick Davis replaced by Glencore's Ivan Glasenberg.

Knight Vinke said it would consult other investors with a view to taking steps to strengthen the board's independence.

(Reporting by Sinead Cruise, editing by Laurence Fletcher)

((sinead.cruise@thomsonreuters.com; +44 207 542 5154; Reuters Messaging: sinead.cruise.thomsonreuters.com@reuters.net))

Keywords: KNIGHTVINKE/XSTRATA

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GLEN
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