Rio Tinto walks away from Glencore merger talks

At the UK takeover deadline, Rio said it would not make an offer. The two sides disagreed on valuation and on Rio keeping both the chair and chief executive roles. Glencore shares fell as much as 11%.

Why it matters. Under UK rules a bidder must make a firm offer or walk away by a set date, then cannot return for six months.

Source

Mining Journal

In the course

Module 9: The M&A process