""Xstrata Plc (XTA) is set to recommend shareholders vote in favor of a 20.5 billion-pound ($33 billion) sweetened takeover offer by Glencore (GLEN) International Plc after revising the voting structure and winning assurances it will have a majority of the board.
Xstrata, the largest exporter of coal used by power stations, will make changes to secure the loyalty of top managers and balance investor demands, in order to create the world’s fourth-largest mining company, according to a person familiar with the deal, who asked not to be identified as the talks are private.
A successful acquisition by Glencore at current share prices would be the second-largest in the mining industry, behind Rio Tinto Group’s $38 billion purchase of Canada’s Alcan Inc. in 2007. The volume of announced takeovers of mining companies rose to $80.2 billion last year, the highest since 2008, according to data compiled by Bloomberg, ascommodity demand in developing nations and the deteriorating quality of mineral reserves pushed producers to seek greater economies of scale.""