Glencore pushes Xstrata merger completion back again
Friday, 01 March 2013
LONDON: Commodities trader Glencore pushed back the date for completion of its tie-up with miner Xstrata for the third time on Friday, citing on-going regulatory process and the Xstrata court timetable.
Glencore said it will not now be possible to complete the deal by March 15, which it had said in January was its "long stop date" for finalising the $33 billion deal.
The company, which is due to report its annual results on Tuesday, did not give a new date for when it expects the deal to complete.
Glencore is still waiting for the go-ahead for the deal from antitrust authorities in China, having already received a conditional approval from European and South African regulators. (Reuters)
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