Glencore-Xstrata Tie-up Delayed in China

by swisscham in Engineering, Manufacturing

Glencore and Xstrata have extended the deadline for closing their long-awaited, USD 80 billions tie-up to form one of the world’s top natural resources groups, scrapping March 15 as a target due to continuing discussion with Chinese authorities. The world’s largest commodities trading house and the mining company updated the market about a new target on March 5, when they released their annual results. Observers say the discussions with Beijing could take at least another one to two months based on the experience of previous big takeovers.

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