Xstrata Decision to Accept Glencore's Takeover Bid Extended

Financial News Network
September 24, 2012 AT 2:53 PM
The takeover of Xstrata by Glencore is being extended by at least another week. Britain's takeover regulator has given Xstrata an extra week to decide whether to accept the $36 billion revised offer from Glencore.This delay is yet another road block in the process of getting the acquisition agreed upon. Investors from both groups seem to be anxious and expected there to be a decision by this Monday.Although it has been a long time coming though, analysts are expecting the deal to go through.Both Glencore and Xstrata stock were up in today's trading session over on the London exchange. Glencore finished up over 1% while Xstrata finished up over a half a percent.