Mick Davis, chief executive of Xstrata, has broken the hearts of investment bankers and lawyers by putting the brakes on the mining company's aggressive deal-making.
Xstrata has grown rapidly since it floated in 2002, acquiring 13 companies and, in the process, turning itself from a ₤2 billion ($3.6bn) business into one with a market capitalisation of ₤28bn.
Mr Davis believes that Xstrata now has a sufficiently attractive internal pipeline for it to concentrate on organic growth.
Click here for Xstrata's future plans for fewer takeovers.
