Glencore will this week move into the final stage of its long-awaited $30 billion takeover of miner Xstrata, as shareholders are sent detailed documents on the deal, kicking off a last charm offensive ahead of July votes.
But Xstrata investors hoping for an improvement to the all-share offer are likely to be disappointed, at least for now.
That is because of technical changes set to support Glencore shares over the coming weeks, share sales by prominent naysayers and stake-building by Qatar, whose sovereign wealth fund now has more than 9 percent of Xstrata and is expected to back the deal.
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