Complex sentence: Foreign merchants of the Hanseatic League had considerable privileges in English trade and competed with the Merchant Adventurers, but these privileges were revoked by the English government in the mid- 16th century.
Split into simpler sentences: Foreign merchants of the Hanseatic League had considerable privileges in England trade and competed with the Merchant Adventurers. These privileges were revoked by the English government in the mid- 16th century.