Xstrata and Glencore secure deal extension

Swiss commodity trader Glencore and London-listed mining company Xstrata will extend the long-stop date for their merger until March 15th, an announcement from Xstrata issued this morning has shown.

Swiss commodity trader Glencore and London-listed mining company Xstrata will extend the long-stop date for their merger until March 15th, an announcement from Xstrata issued this morning has shown.

The news follows a similar announcement on December 10th when both companies announced the extension of the long-stop date would move from December 31st to January 31st.

According to Xstrata, completion of the merger remains conditional upon the receipt of outstanding regulatory approvals in China and South Africa in addition to the completion of a court process and the fulfillment of certain European Commission criteria.

MF

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