Glencore extends Xstrata merger completion date

COMMODITIES giant Glencore this morning pushed back the completion date of its £59bn mega merger with Xstrata for the third time this morning as it waits for the green light from regulators.

Glencore, which first announced the merger with Xstrata in February 2012, said it would not be possible to finally complete the transaction by March 15.

The date in March was given in January as the “long stop date” for the completion of the deal.

Glencore is still waiting for the go-ahead for the deal from antitrust authorities in China, having already received a conditional approval from European and South African regulators.