Glencore - Xstrata merger finally completes

The merger of mining giants Glencore and Xstrata has finally reached completion, it was announced Thursday.

The merger of mining giants Glencore and Xstrata has finally reached completion, it was announced Thursday.

Under the deal, Xstrata shareholders will receive 3.05 new Glencore shares for every one Xstrata share held.

As such, 6.16bn new Glencore shares will be added to to market as of Friday May 3rd.

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Xstrata has applied to have its listing cancelled on the London Stock Exchange's main market, as well as the SIX Swiss Exchange, on the same date.

Having suffered a number of delays since the merger was first proposed, the process under went its final stage earlier in the week when the High Court of Justice of England and Wales sanctioned the deal.

Glencore shares rose 3.07% to 323.95p by 13:05 on Thursday.




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