Rio Tinto and Glencore restart talks over mega-merger
CNBC••general
Key Points:
- Rio Tinto and Glencore are in preliminary discussions about a potential all-share merger, which could involve Rio Tinto acquiring Glencore through a Court-sanctioned scheme of arrangement.
- If completed, the merger would create the world's largest mining company, positively impacting European mining shares, with notable gains in companies like Antofagasta and Anglo American.
- Rio Tinto has until February 5 to either announce a firm intention to make an offer for Glencore or declare no intention to proceed.
- Previous merger talks in late 2024 collapsed due to disagreements over valuation and Glencore's coal mines, but renewed discussions are driven by rising copper demand and record-high copper prices.
- This potential deal follows significant recent M&A
