Glencore extends deadline for xstrata acquisition

Glencore extends deadline for xstrata acquisition

Even if the talks were constructive, do not expect a conclusion until the 16th of the month. April to count. At the beginning of march, the two swiss-based commodity companies had given this date as the closing date, after previously targeting mid-march.

The EU commission had already given the green light for the megadeal in november 2012. The merger of the commodity giants was originally scheduled to go ahead last year. The "elephant wedding" was postponed several times due to outstanding official approvals.

Commodities trader glencore and mining group xstrata had agreed to merge in february 2012. As "glencore xstrata plc" they want to form one of the world’s largest commodity groups, with the entire value chain from mining and trading to storage and transport concentrated under one company roof. The annual turnover will then be about 200 billion dollars (156 billion euros).

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