November 8th is the latest date of importance in the ongoing merger between Glencore International (GLCNF.PK) and Xstrata (XSRAF.PK)(XSRAY.PK) as the European Commission says it will decide on approval by then. In the meantime, Glencore can offer concessions to avoid an in-depth investigation which could consume up to 105 working days. In such an inquiry, the Commission could examine the potential market power of the new entity as it becomes the largest thermal coal exporter in the world along with being the top producer of zinc and ferrochrome, not to mention the third-largest copper producer.
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Premier Alison Redford of Alberta is said to have asked Canada’s federal government to insist on more stringent conditions being placed upon the management makeup and workforce levels in Cnooc Limited’s (NYSE:CEO) proposed acquisition of Nexen (NYSE:NXY), prior to its approval.
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