Xstrata asks for more time to decide on Glencore bid

The Takeover Panel has granted a request to extend the deadline by which the independent non-executive Xstrata directors will announce their response to Glencore's revised merger proposal.

The Takeover Panel has granted a request to extend the deadline by which the independent non-executive Xstrata directors will announce their response to Glencore's revised merger proposal.

The extension was requested to enable Xstrata's independent non-executive directors to take full account of feedback from consultation with key Xstrata shareholders. The new deadline is 07:00 on Monday, October 1st, an extension to the original period of one week.

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