Glencore International Plc (GLEN) is continuing to stick to the terms of a $33 billion bid for Xstrata Plc (XTA), resisting mounting pressure from shareholders to sweeten the offer four days before investors vote, according to a person with knowledge of the matter.
No talks were held during the weekend, and none are scheduled between Glencore and Qatar Holding LLC, the biggest opposing shareholder, according to the person who asked not to be named because the plans are private. If the current proposal fails, executives are considering a structure for a new offer that would be more difficult to block, the person said.
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