As if the controversy surrounding the merger-turned-quasi-takeover of Glencore for Xstrata weren’t dramatic enough, the involvement of former British Prime Minister Tony Blair as the deal-broker between Glencore and the Prime Minister of Qatar has added a further twist of intrigue to the proceedings. According to press reports, the Glencore CEO, Ivan Glasenberg, met with Sheikh Hammad, Prime Minister of Qatar, in London late on Thursday to try to agree revised terms ahead of a meeting of Glencore shareholders in Zug, Switzerland scheduled for Friday to vote on the original terms. It is not clear if the new 3.05 times ratio will be successful but it could result in Xstrata’s Chief Executive, Mick Davis, who was expected to have been appointed head of the new group, having to step down after six months in favour of Ivan Glasenberg in that role. The new terms are to be put to the Xstrata board today. The indications are that the Xstrata board is not convinced about the deal on this revised basis, particularly as around £200 million of financial sweeteners previously earmarked for Xstrata board members appear to have disappeared.