Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Glencore, Xstrata Merger To Be Notified To European Commission - Quick Facts

2/24/2012 2:16 AM ET

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.

Click here to receive FREE breaking news email alerts for Glencore International Plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter. Stocks moved mostly lower during trading on Wednesday, giving back some ground after trending higher over the past several sessions. Selling pressure was relatively subdued, however, limiting the downside for the markets. The major averages all closed in the red, although the tech-heavy Nasdaq underperformed its counterparts by a wide margin. Russian Foreign Minister Sergei Lavrov warned Wednesday that Moscow would retaliate strongly if its "interests" in Ukraine are attacked. He also criticized the Ukrainian administration for relaunching its so-called anti-terrorist operation in the east of the country a day earlier. Lavrov's remarks came in an interview with Russia Today, which published excerpts of the English-language interview to
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.