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Glencore’s $26 billion bid for Xstrata wins ACCC clearance

 |  July 4, 2012

The Australian Competition and Consumer Commission has approved Glencore’s $26 billion planned acquisition of Xstrata. Glencore is a commodities trader and mining company. Xstrata is a mining company headquartered in Switzerland. The ACCC concluded that the vertical link created by the deal was unlikely to lead to anticompetitive effects in the global markets for coal, copper, nickel, cobalt and zinc.

The next step for the merger is to win shareholder approval. The vote has been delayed because Qatar, an Xstrata shareholder, requests better terms.

Full content: Reuters


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