logo
Share SHARE
FONT-SIZE Plus   Neg

Glencore, Xstrata Currently In Constructive Talks With Regulatory Authorities

Xstrata plc (XTA.L) said that the company and Glencore International plc (GLEN.L,GLNCY.PK,GLCNF.PK) are currently engaged in constructive talks with the regulatory authorities, which require anti-trust filings to be submitted in connection with the proposed merger, including the European Commission.

The companies continue to expect to receive all relevant approvals to enable completion of the merger in the third quarter of 2012, as announced earlier. Documentation relating to the merger is now anticipated to be distributed to each company's shareholders by the end of May 2012 instead of in April as originally announced on February 7, 2012. Respective shareholder meetings to approve the merger are expected to be convened in early July 2012.

The Panel on Takeovers and Mergers has given its consent to these arrangements.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
Follow RTT