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Glencore International PLC Pushes Back Xstrata PLC Deal Due To China Probe-Reuters


Tuesday, 2 Apr 2013 02:32am EDT 

Reuters reported that Glencore International PLC had again extended the date by which it expects to close its merger with Xstrata PLC due to the ongoing investigation into the deal in China. Glencore has been waiting for several months for China to give the go-ahead before it can complete its $35 billion acquisition of miner Xstrata. Glencore had held constructive discussions with China's Ministry of Commerce, or MOFCOM, but that it had pushed the deadline date back to May 2 because it did not expect to have the final approval in time for its previous deadline of April 16. 

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