Commodity trader Glencore's takeover of miner Xstrata has received the backing of Qatar Holdings, Xstrata's second largest shareholder.
On Thursday, Qatar Holdings (QH) released a statement in which it announced: "QH continues to see merit in a combination of the two companies and is satisfied with the terms of the proposed merger, having secured the improved exchange ratio of 3.05 new Glencore shares for every one existing Xstrata share."
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