Glencore and Rio Tinto Merger Talks Resurface

Glencore and Rio Tinto Resume Merger Talks

Glencore, the ​Swiss mining and commodities trading giant,‌ confirmed‍ Friday it ⁤is indeed ⁤in preliminary discussions with Anglo-Australian competitor Rio Tinto regarding a potential merger. The talks resume one⁢ year after previous negotiations failed.

Glencore confirmed the discussions, following press‍ reports, involve “a possible combination⁣ of some or all of their businesses,” according to a company statement.

The Financial Times reported Thursday ⁢that​ the two ‍companies had restarted discussions ‍about a “mega-merger” that would ⁢create the world’s largest mining ⁤company, valued at over $260 billion (approximately 208 ⁣billion Swiss francs).

Glencore anticipates, should the ‌merger succeed, that it ⁣will require‌ meaningful regulatory review.