M&A market faces steep fall as Glenstrata teeters

The multi-billion dollar merger between Glencore and Xstrata has propped up European M&A volumes in the first half, but now the deal is on the ropes

The European mergers and acquisitions market could be set for a crashing fall if shareholders in the Anglo-Swiss miner Xstrata vote to block its tie-up with the commodities giant Glencore International.

Xstrata and Glencore, which agreed a deal valued at $48.4bn in February, are under pressure to amend the agreement due to investor unrest over the price and execution retention packages.

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