Reuters logo
Glencore pushes Xstrata merger completion back a month
December 10, 2012 / 2:08 PM / 5 years ago

Glencore pushes Xstrata merger completion back a month

LONDON (Reuters) - Lengthy antitrust regulatory processes in China and South Africa have forced commodities trader Glencore (GLEN.L) to delay the date for completion of its tie-up with miner Xstrata XTA.L until the end of January.

The logo of Glencore is pictured in front of the company's headquarters in the Swiss town of Baar, November 13, 2012. REUTERS/Michael Buholzer

South Africa’s competition authorities have postponed hearings on the $33 billion deal until January 18, after the parties asked for more time to prepare.

Glencore said on Monday its “long stop date” was now January 31, a month later than previously planned.

Glencore is still awaiting a green light from antitrust authorities in China and South Africa, having already received a conditional approval from European regulators.

Reporting by Clara Ferreira-Marques; Editing by Kate Kelland

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below