Rio Tinto, Glencore Merger Discussions No Longer Active: Sources
However, the transaction would not be simple and is likely to face hurdles.
SEATTLE (Scrap Monster): Late last year, Rio Tinto Group and Glencore plc discussed merging. However, sources claim that the discussions are not ongoing at the moment. The goal of the negotiations was to create a challenger to the BHP Group by merging the two major producers of copper. By the end of 2024, Glencore had contacted Rio Tinto to talk about the merger.
The two businesses' possible combination would rank among the biggest mining transactions in history. In comparison to BHP's anticipated market value of $126 billion, the total market value after the purchase would be approximately $158 billion. However, there would undoubtedly be obstacles and the purchase would not be straightforward. Both businesses chose not to comment in the interim.
It should be mentioned that Glencore is valued at approximately $126 billion, while Rio Tinto's market value is believed to be at $104 billion.
The two businesses had previously engaged in merger negotiations. Glencore had made the similar request to Rio Tinto in 2014. Rio Tinto, however, rejected the offer, claiming that it was not in the best interests of its stockholders. In keeping with the overall trend in the global mining industry, Glencore has been actively looking for merger options over the last few years.
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