Glencore shareholders back £44m Xstrata deal The £44bn mega-merger of miner Xstrata and commodity trader Glencore is being put to the shareholder vote on Tuesday. Glencore's shareholders voted first on the deal and as expected, the resolution was passed. Glencore said that 99.4pc of voting shareholders supported the resolution on the tie-up. Xstrata shares were on Monday trading at a near-record ratio of 2.9 times the price of Glencore shares, close to the deal offer ratio of 3.05, which signalled market confidence the merger will take place. But, shareholders are expected to refuse to sign off "golden handcuffs" for Xstrata's management. After Qatar's sovereign wealth fund said it would abstain from the Xstrata vote on paying £140m to 70 staff in retention payments, insiders are certain that the plan to pay out those bonuses will be voted down.