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Switzerland: Glencore’s $76B Xstrata deal delayed for third time

By  |  March 4, 2013
Switzerland: Glencore’s $76B Xstrata deal delayed for third time

Swiss-based Glencore has delayed its nearly $76 billion takeover of mining company Xstrata, the third time to do so despite having conditional clearance for the merger by the European Commission as well as authorities in South Africa. The merger awaits approval from Chinese antitrust authorities. The deal was most recently supposed to be complete by the fifteenth of this month, however the company told its shareholders it could no longer meet this deadline. A new deadline has not yet been set. Glencore currently owns 34 percent of Xstrata.

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