Xstrata Delays Decision On $36B Glencore Merger Offer

Law360, New York (September 21, 2012, 3:30 PM EDT) -- European mining company Xstrata PLC has been granted an additional week by the U.K. Takeover Panel for its independent board members to review a revised $36 billion all-stock takeover offer by Swiss commodities giant Glencore International PLC, Xstrata said Friday.

The Anglo-Swiss mining firm said the Takeover Panel agreed to extend the deadline for the response by Xstrata's independent directors to Oct. 1. The extension was jointly requested by Xstrata and Glencore, according to Xstrata.

"The extension was requested to enable Xstrata’s independent nonexecutive directors to...
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