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Xstrata-Glencore merger backed by European Commission

Posted on 23 November 2012

The European Commission has given its backing to commodities giant Glencore’s $31bn (£19.5bn) bid to take over mining firm Xstrata. But as a condition, Glencore must scrap an exclusive deal with Nyrstar, the world’s largest zinc metal producer, and sell its 7.8% stake in the firm.
Both Xstrata and Glencore shareholders have already voted overwhelmingly to merge the two companies. The deal still requires regulatory approval in China and South Africa………………………………………..Full Article: Source


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