On April 16, 2013, the Ministry of Commerce
("MOFCOM") cleared the proposed
acquisition of Xstrata plc ("Xstrata")
by Glencore International plc
("Glencore") with conditions. Both
structural and behavioral remedies are involved in the
conditions.
The over 8,000-word decision issued by MOFCOM contains the most
detailed competition analysis that has ever been published. In
addition, for the very first time, the full text of the
parties' final commitment proposals were published together
with the clearance decision, providing more insights regarding the
implementation of the remedies.
Review Timeline
According to MOFCOM's announcement, the first submission was
made on April 1, 2012, and was officially accepted on May 17, 2012.
MOFCOM raised competition concerns during the Phase II period, and
upon agreement by the parties, MOFCOM decided to extend the Phase
II period, which would expire on November 13, 2012. Two rounds of
remedy proposals were submitted by the
