Glencore, Rio abandon merger talks for the third time
Feb 5 (Reuters) - Rio Tinto RIO.AX said on Thursday that it was no longer in talks with Glencore GLEN.L about a takeover that would have created the world's largest mining company, saying it could not reach an agreement that would deliver value to its shareholders.
Attempts to combine the companies have repeatedly fallen short. Rio rejected a merger approach from Glencore in 2014, saying it was not in the best interests of shareholders, and another round of discussions in 2024 also fizzled out without a deal.
The abandoned talks echo other ambitious mining deals that have faltered, including BHP’s $49 billion approach for Anglo American, which unravelled over concerns about the structure of the offer, even as the sector pushes to consolidate amid rising demand for metals.
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