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Switzerland: Competition Commission approves takeover of Xstrata

By  |  October 22, 2012

Glencore’s proposed takeover of miner Xstrata was approved by South Africa’s Competition Commission, who concluded the deal was not likely to weaken competition in the nation. The Swiss company has acquired Xstrata for $33 billion. Concerns were raised, however, over the possible retrenchment of the current 180 employees of Xsrata, most of which are low-level positions; the Competition Commission has recommended the limitation of worker retrenchment to 80.

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