Mining giant Xstrata has reported that the High Court of Justice of England and Wales has sanctioned the new scheme to effect the all-share merger of Xstrata and Glencore.
The group reported that an application had been made to the UK Listing Authority and the London Stock Exchange requesting that the last day of dealings in, for the registration of transfers of, and disablement in CREST of, Xstrata ordinary shares be April 30th.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The new scheme and the merger are expected to become effective on May 2nd 2013, subject to the completion of the Xstrata court process.
Glencore's share price was 0.77% higher at 321.80p by 14:02 on Monday, while Xstrata was up 0.06% at 980.50p.
MF
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
