JOHANNESBURG (miningweekly.com) – The all-share merger between diversified mining companies Xstrata and Glencore is expected to become effective on May 2, Xstrata said on Monday.
The merger will see the creation of the $90-billion natural resources group Glencore Xstrata.
his followed an announcement by the High Court of Justice of England and Wales that it had sanctioned the new share scheme.
In addition, an application had been made to the UK Listing Authority and the London Stock Exchange (LSE) requesting that the last day of dealings in Xstrata ordinary shares be April 30, and that the trading of Xstrata ordinary shares on the LSE be suspended on May 1.
An application had also been made for the suspension of trading in the Xstrata ordinary shares on the SIX Swiss Exchange from May 1.