Glencore (GLEN.L) and rival shareholder Qatar could be granted weeks more to hammer out a deal over the terms of the commodity trader's planned takeover of miner Xstrata (XTA.L), easing speculation that the current deadlock could put the deal on ice.
Xstrata will this week set a fresh date for investors to vote on Glencore's proposed $26 billion takeover offer - probably in September to allow for the European summer break, the Olympics in London and half-year results from both the miner and the trader, sources familiar with the matter said.
Xstrata shareholders had been due to meet on July 12, but the miner was forced to delay the vote late last month after adjusting retention packages for its executives in response to shareholder outcry over mostly cash deals.
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