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Qatar could get extended time to figure out Xstrata deal

Global miner Xstrata plans to set a fresh date this week for investors to vote on Glencore's proposed $26bn takeover offer, Reuters has reported. This will give Glencore and rival shareholder Qatar weeks more to hammer out a deal over the terms of the commodity trader's planned takeover of Xstrata, easing speculation that the current deadlock could put the deal on ice. 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. The new vote date, likely to be at least 24 days after supplementary documents are published this week, is still moveable.