Glencore, the Swiss commodities trading firm, is trying to takeover a mining company called Xstrata. And the deal just got a stamp of approval from European regulators.

Trading giant Glencore has made a new bid for mining company Xstrata, thanks in part to some deal making by British Prime Minister Tony Blair.

The world's largest commodities trader Glencore has agreed to buy mining giant Xstrata to create a global giant in coal, zinc and copper mining and production.

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