CAPITAL MARKETS

Glencore-Xstrata merger delayed, profits down

GLENCORE says it is postponing its $A50 billion merger with Xstrata another month with both companies posting severely reduced profits in otherwise upbeat annual reports.

Justin Niessner
Glencore-Xstrata merger delayed, profits down

Glencore extended the long stop date for the merger to April 16, noting outstanding regulatory approval from China. The company’s attributable profit for 2012 was down 75% year-on-year to $1 billion,...

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