Xstrata shares suspended ahead of Glencore merger

 
Suzie Neuwirth

SHARES in FTSE 100 mining company Xstrata have been suspended from trading today, ahead of the long-awaited merger with commodities trading house Glencore.

Shares have been suspended on both the London Stock Exchange’s main market and in Switzerland.

The merger is expected to become effective on 2 May 2013, the miner said.

As City A.M previously reported, Xstrata chief exec Mick Davis will step down on completion of the deal, to be replaced by Glencore boss Ivan Glasenberg who will head up the merged company. Davis has agreed to stay on as a consultant until 30 June to facilitate the handover.