Glencore International plc (GLEN.L,GLNCY.PK,GLCNF.PK) issued Xstrata (XTA.L) merger update.
After constructive consultation with the European Commission, the merger of Glencore and Xstrata will be notified to the European Commission under the EU merger regulation. Each of Glencore and Xstrata are familiar with the Commission's merger control process and together look forward to working with the Commission in a process which avoids the need for multiple filings with national Member State authorities.
The parties expect that the merger between Glencore and Xstrata will not result in any negative impact on competition in the commodity markets in which the two companies operate. In fact, the merged firm is expected to be able to offer customers a wider range of products and services and provide improved security of supply to satisfy customer demand.
by RTT Staff Writer
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