Xstrata's shares were suspended on the London Stock Exchange on Wednesday as part of its planned merger with Glencore.
The mining group said the suspension was approved following an application to the UK Listing Authority ahead of its merger with Glencore, which is expected to become effective on May 2nd, subject to court proceedings.
The company's shares were also suspended on the SIX Swiss Exchange from 7:00am.
Subscribe to 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
Xstrata is the world's fourth-largest producer of copper. It aims to increase output by more than 50% from 2011 levels by 2015, on the back up of projects like the $5.2bn Las Bambas mine ramp up.
A merger between the two producers would account for around 7.0% of global copper supply, which is expected to increase with mines in Australia, Peru and Chile.
RD
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
