a question

Folks,

Disclosure: I own MRE, a lot of it.

Background:
And I've wondered how such a prime takeover target that has paid good dividends and has got its house in order is plagued with consistently low prices.

Question:
Is it true that Glencore (the Xstrata puppetmeister) owns a significant (and decisive) stake? If this is true - and I'd like to be informed if it is! - then would it be in Xstrata's interest to have a consistently low price before making a "full and fair" offer - something that occurred in their MIM scoop not so long ago? At a ridiculously low price? For who else could enter with a counter offer if Glencore owned a decisive stake?