Mine

make[4]: Entering directory `/foo/git/xserver/hw/xfree86'
/bin/sh ../../libtool --tag=CC   --mode=link gcc -DHAVE_DIX_CONFIG_H -Wall -Wpointer-arith -Wstrict-prototypes -Wmissing-prototypes -Wmissing-declarations -Wnested-externs -fno-strict-aliasing -D_BSD_SOURCE -DHAS_FCHOWN -DHAS_STICKY_DIR_BIT -I/foo/X//include -I/usr/include/freetype2 -I/usr/include/dbus-1.0 -I/usr/lib/dbus-1.0/include   -I../../include -I../../include -I../../Xext -I../../composite -I../../damageext -I../../xfixes -I../../Xi -I../../mi -I../../miext/shadow  -I../../miext/damage -I../../render -I../../randr -I../../fb  -DHAVE_XORG_CONFIG_H -DXF86PM -I/foo/X//include   -g -O2 -rdynamic  -o Xorg xorg.o ../../dix/libdix.la ../../config/libconfig.a common/libinit.a loader/libloader.a libosandcommon.la rac/librac.a parser/libxf86config.a dixmods/libdixmods.la modes/libxf86modes.a ddc/libddc.a i2c/libi2c.a ../../composite/libcomposite.la ../../mi/libmi.la ../../xfixes/libxfixes.la ../../Xext/libXextbuiltin.la ../../GL/glx/libglx.la ../../GL/mesa/libGLcore.la ../../render/librender.la ../../randr/librandr.la ../../damageext/libdamageext.la ../../miext/damage/libdamage.la ../../miext/cw/libcw.la ../../miext/shadow/libshadow.la ../../Xi/libXi.la ../../xkb/libxkb.la ../../dix/libxpstubs.la ../../os/libos.la -ldl   -L/foo/X//lib -L/lib -lXfont -lfreetype -lm -lz -lXau -lfontenc -ldbus-1 -lXdmcp    -lm dixmods/libxorgxkb.la -lm
libtool: link: cannot find the library `/usr/lib/libfreetype.la'