Following delays in obtaining regulator approval in South Africa, commodities trader Glencore International has announced it has extended the deadline to complete its $33 billion proposed takeover of Xstrata by a month to Jan. 31.
The company was expected to defend its case this week after South African power utility Eskom expressed worries the merger with Xstrata could affect its coal supplies. Glencore is a major coal supplier to Eskom and one of South Africa’s main producers of the commodity. The South African government workers’ pension is also a big shareholder in the company.