China: As last hurdle standing, authority may use $35B mining merger to nation’s advantage
As China’s antitrust authority MOFCOM remains the last hurdle to pass before Glencore can take over Xstrata for $35 billion, reports say that the case brings more to light about MOFCOM as the world’s newest and “least predictable” major competition authority. MOFCOM remains the only major watchdog to consider it’s nation’s industrial policies as the authority eyes how the merger – the largest in history within the industry – will affect the copper market. Reports say China is the largest buyer of materials that Glencore trades and mine; sources say that because China needs the copper Glencore mines, the authority is unlikely to block the deal. The nation could, however, impose conditions on the merger to ensure sufficient supplies. Also according to reports, analysts have been surprised at China’s response in focusing on copper; European regulators focused more on the European zinc market.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI