Glencore chairman Simon Murray said there had been "developments overnight", leading to speculation it was about to improve the deal's terms.
The company did not say when the meeting would be reconvened.
But it added that it had requested the suspension of trading in its shares on the London and Hong Kong exchanges.
Following news of the delay, Glencore shares fell 1.5% in London, while Xstrata's rose almost 4%.
Glencore's chief executive Ivan Glasenberg had previously rejected demands by an important shareholder of Xstrata, Qatar Holding, to improve terms ahead of the proposed merger, originally valued in February at $90bn.
Qatar Holding owns about 12% of Xstrata, enough to have the power to block the merger.
The takeover would involve Xstrata investors swapping each of their shares for 2.8 newly issued Glencore shares, but the Qatari sovereign wealth fund wants a ratio of 3.25.
"We cannot understand the position of the Qataris, asking for more than the 2.8 ratio. We have seen nothing coming out of recent results that supports this, in fact we have seen quite the opposite," Mr Glasenberg said in August.
"It is not a must-do deal. It is a deal that we believe makes sense… but if shareholders have another opinion it is their choice," he added.
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