Glencore Xstrata shareholders have overwhelmingly voted in favour of Tony Hayward, BP's former chief executive, as interim chairman of the newly merged group.
He points out that Glencore and Xstrata would not be the biggest company of its type.
China, for example, buys a lot of commodities from Glencore and Xstrata, and may fear prices will rise.
They added that the new ratio of Glencore to Xstrata shares on offer represented a premium "significantly lower than would be expected in a takeover".
In addition, they said the new ratio of Glencore to Xstrata shares on offer represented a premium "significantly lower than would be expected in a takeover".
Over the last seven months, Glencore and Xstrata have been dancing around each other, flirting with a merger that is consistently delayed and could finally fall apart.
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Glencore and Xstrata, the world's biggest exporter of thermal coal which also produces copper, nickel and zinc, agreed last year on a merger that would create an industry giant.
Creating a global mining behemoth is not an easy task, but in the specific case of the proposed merger between Glencore and Xstrata, it has looked more like a promethean task.
FORBES: $90B Global Mining Giant Glencore-Xstrata Inches Closer: Deal Depends On Qatar Now
In his letter to the seven firms - Antofagasta, Croda, Glencore, Xstrata, Kazakhmys, Melrose and Vedanta - Mr Cable said they and other multinational businesses must ensure they had the "right people" around their boardroom table.
The merger between Glencore and Xstrata was finalised on 2 May after much delay, mainly due to opposition by Qatar Holdings, Xstrata's second largest shareholder, against the multi-million pound "golden handcuffs" plan to retain Xstrata's board members.
"The strategic rationale for combining Xstrata and Glencore remains highly compelling, " said Xstrata's chief executive Mick Davis.
The result was that Glencore and the Qataris shook hands on a price of 3.05 Glencore shares per Xstrata share.
About 40% of shareholders did not support the miner's annual pay report, while many opposed the re-election of two directors, including Glencore boss and Xstrata board member Ivan Glasenberg18432084.
Although the key Xstrata shareholder, Qatar Holdings, with its 12% stake, was asking for a higher offer than the 3.05 Glencore shares for each Xstrata - it has said it would accept a minimum of 3.25 Glencore shares - most shareholders should benefit from the deal.
Qatar Holding, which owns about 12% of Xstrata, has said it wants an offer of 3.25 Glencore shares for every one Xstrata share.
Shareholders will now vote on whether to accept the offer of 3.05 Glencore shares for every Xstrata share.
Mining analyst John Meyer, from Fairfax Investment Bank, has been following Glencore's and Xstrata's activities for more than a decade.
Commodities trader Glencore and mining outfit Xstrata are engaged in merger talks, with a formal deal expected to be hammered out as early as next week.
FORBES: Glencore's Glasenberg In Talks To Finally Net Xstrata
The planned merger of commodities trader Glencore and mining group Xstrata has moved a step closer after Xstrata's second-largest shareholder said it would back the deal.
These factors are unlikely to weigh too heavily on Xstrata, Glencore and their shareholders as they decide whether to go along with the wishes of the two companies' directors.
Now that Xstrata and Glencore have unveiled their widely expected plan to merge and form a mining-and-commodities behemoth, the hard work begins: Selling the deal to shareholders and regulators.
Their relationship ended during a dispute over the terms of a deal to forge a single business out of Xstrata and Glencore, with Glasenberg annoyed that Davis joined a push for more generous terms, a demand which was met but which also turned a so-called merger of equals into a hostile takeover and the break-up of the team.
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When Glencore had made its original offer of 2.8 Glencore shares for every one Xstrata share in February, Qatar Holding, which owns a 12% holding in Xstrata, had said that it wanted an offer of 3.25 shares.
The Switzerland-based commodities giant, run by billionaire Ivan Glasenberg, upped its offer to 3.05 Glencore shares for each share of Xstrata, from an initial bid of 2.8 shares.
To help secure this, there are unconfirmed reports that Glencore has offered to sell part of Xstrata's German operations.
The long and winding road that has been the attempted merger between miner Xstrata and commodities trading house Glencore seems to be nearing its end.
FORBES: $90B Global Mining Giant Glencore-Xstrata Inches Closer: Deal Depends On Qatar Now
While the two firms have flirted openly for years, Davis reportedly refused to seriously consider combining the companies without a reliable valuation on which to base the premium Glencore would have to pay to for Xstrata.
FORBES: Glencore's Glasenberg In Talks To Finally Net Xstrata
Currently, Glencore needs the approval of 75% of Xstrata shareholders (they currently hold a 34% stake, but are not counted in the vote).
FORBES: Glencore's Billionaire CEO Glasenberg Raises Xstrata Bid To Woo The Qataris
Glencore is looking to retain top talent at Xstrata in order to create a global commodities giant that can compete with the likes of BHP Billiton, Rio Tinto, and Vale.
FORBES: Glencore's Billionaire CEO Glasenberg Raises Xstrata Bid To Woo The Qataris
"The merger will increase the diversification of both companies, with Glencore achieving stronger control over the high-quality mining resources of its currently 34% associate Xstrata, and the latter gaining full access to the trading and logistic platform of Glencore, " it said.
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