Another delay for Glencore-Xstrata merger

Glencore and Xstrata have announced yet another delay to their merger agreement, with regulation and court processes holding up the deal.

In a brief statement yesterday Xstrata said the merger was reliant on outstanding regulatory approval in China and the completion of court processes.

 

On the back of the delays Xstrata and Glencore have agreed to extend a key deadline for the deal back to 2 May.

 

Glencore's $30 billion takeover of Xstrata was approved by shareholders last year, but missed deadlines and delays leading up to the deal previously lead analysts to question whether the merger would go ahead.

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