Australian miner Rio Tinto and Swiss-headquartered miner Glencore have confirmed they are in advanced talks regarding a potential combination of some or all of their businesses.
Talks could include an all-share merger, the companies said, with any deal currently expected to be consummated through a court-sanctioned acquisition of Glencore by Rio Tinto. The company stressed that negotiations remain at an early stage.
No certainty regarding the offer or terms
The statements noted that there is no certainty that the offer will be made, and there are no guarantees regarding the terms of the potential transaction if it proceeds. Rio Tinto has until 5pm. (London time) on 5 February 2026 to either announce its firm intention to make an offer for Glencore or confirm that it does not intend to make an offer. The deadline may be extended with the consent of the UK Takeover Commission
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