If concluded, the merger would create a mining and commodities trader that encompasses Xstrata's coal, nickel, zinc and copper mines and Glencore's cotton-to-oil trading empire. In yesterday's complex three-part shareholder ballot, 78.8 per cent of Xstrata investors voted to approve the merger without the retention bonuses, while a motion backing the merger with the bonuses – which needed 75 per cent approval – only secured 68 per cent. The final vote, on just the retention bonuses, was rejected, leaving the deal approved but without the payouts.