Glencore confirms merger talks with Rio Tinto

Glencore said it was in preliminary talks with Rio Tinto about combining some or all of their businesses, possibly through an all-share merger. Any deal was expected to take the form of Rio acquiring Glencore by a scheme of arrangement. UK takeover rules gave Rio until 5 February to make an offer or walk away.

Why it matters. Once talks are public, the UK put-up-or-shut-up rule sets a 28-day deadline for a firm offer.

Source

Miningmx

In the course

Module 9: The M&A process