A last-minute deal to save the controversial merger of Xstrata with its major shareholder Glencore is on the cards after Glencore adjourned its extraordinary general meeting (EGM) called to vote on the merger.
Simon Murray, Chairman of Glencore, said there had been developments overnight and there is speculation that a revision to the terms could be announced on Friday morning. They will have to get a crack on, however, as Glencore has until 11:00 Swiss time (10:00 BST) to persuade Xstrata to adjourn its own EGM, which has been called to vote on the so-called "merger of equals" with Glencore.
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