Commodities Buzz: Glencore confirms that it is in preliminary merger discussions with Rio Tinto

Mining major Glencore has confirmed that it is in preliminary discussions with Rio Tinto plc and Rio Tinto Limited about a possible combination of some or all of their businesses, which could include an all-share merger between Rio Tinto and Glencore. The parties? current expectation is that any merger transaction would be affected through the acquisition of Glencore by Rio Tinto by way of a Court-sanctioned scheme of arrangement. There is no certainty that the terms of any transaction or offer will be agreed, nor as to the terms or structure of any such transaction or offer, if agreed. Nothing in this announcement shall be construed as indicating any terms of any such transaction or offer for the purposes of Rule 2.5 of the Code. This deal would potentially create the world?s biggest mining group.

Powered by Commodity Insights