logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A $716 billion defense policy bill easily cleared the Senate on Monday, although the legislation must still be reconciled with the version previously approved by the House. The Senate voted 85 to 10 in favor of the National Defense Authorization Act, which authorizes U.S. military spending for fiscal 2019. Voip-Pal.com Inc. has filed a lawsuit against Amazon Inc., accusing Alexa's calling and messaging services of infringing its patents. The lawsuit, filed by Voip-Pal in the U.S. District Court in Nevada, accuses Amazon's Alexa calling and messaging system of using Voip-Pal's patented technologies to direct voice/video calls and voice messages to both Amazon subscribers and non-subscribers. Canada is a step closer to becoming the first G-7 nation to legalize marijuana nationwide after the House of Commons voted to allow recreational use. The bill will now go back to the country's Senate, which had already approved a version of the bill. On Monday, the House of Commons voted 205 to 82 in favor of the Bill C-45, known as the Cannabis Act.
Follow RTT