The company said it had evaluated the potential deal in accordance with its capital allocation principles. Based on this assessment, Rio Tinto has decided to end discussions about a possible merger of some or all of the two companies' businesses, which was disclosed earlier this year. , as previously reported by SteelOrbis.
Glencore rejects the proposed transaction structure
According to the company, the proposed structure would have allowed Rio Tinto to hold the positions of chairman and chief executive officer, while assigning ownership levels that did not adequately reflect Glencore's underlying value.
Glencore emphasized that it is well positioned to meet both current energy demand and the growing demand for goods related to the transition period.
Following the breakdown in negotiations, Glencore said it would continue to focus on its 2026 priorities, operational goals, and organic growth projects to support long-term shareholder value.
