Glencore Offers Fixes To Win EU's OK Of $36B Xstrata Deal

Law360, New York (October 31, 2012, 2:05 PM EDT) -- Glencore International PLC on Tuesday gave the European Commission concessions on its proposed $36 billion bid for miner Xstrata PLC in an effort to gain approval, prompting the agency to postpone its deadline to consider supporting the deal.

The EC pushed back its provisional deadline for approving or rejecting Glencore’s proposed acquisition of Xstrata until Nov. 22, saying that Glencore had submitted commitments for review. Details of the proposed concessions submitted were not disclosed. Both Glencore and Xstrata declined to comment Wednesday.

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