Glencore pushes Xstrata merger completion back a month
LONDON (Reuters) - Lengthy antitrust regulatory processes in China and South Africa have forced commodities trader Glencore (GLEN.L) to delay the date for completion of its tie-up with miner Xstrata XTA.L until the end of January.
South Africa's competition authorities have postponed hearings on the $33 billion deal until January 18, after the parties asked for more time to prepare.
Glencore said on Monday its "long stop date" was now January 31, a month later than previously planned.
Glencore is still awaiting a green light from antitrust authorities in China and South Africa, having already received a conditional approval from European regulators.