Glencore Extends Xstrata Takeover Deadline Amid China Talks

Glencore International Plc, the largest publicly traded commodities supplier, pushed back the deadline to complete its $33 billion takeover of Xstrata Plc for a fifth time because it’s yet to secure approval from China.

Talks with the nation’s regulator have been “constructive” and are in their final stages, Glencore said today in a statement. A decision isn’t expected before the planned April 16 deadline so the companies have agreed to extend the so-called long stop date for the acquisition to May 2.