Commodities giants Rio Tinto and Glencore recently announced that they have restarted talks about a potential business combination, a mega merger deal valued to US$260 Billion.
The two major miners merger talks dates back to 2024, but they then failed to reach an agreement.
At this time, they stresses that their preliminary discussions are centered around a combination of some or all of their businesses. This could include the acquisition of Glencore by Rio Tinto.
The news was first reported by the Financial Times, with both companies confirming the story via press release subsequently. According to the FT, the combination of Rio Tinto and Glencore would create a giant mining company with an enterprise value north of US$260 billion.
The two firms underlines that there's no guarantee that any transaction will go through.
INN Resources notes, however, that Rio Tinto has changed leadership since the 2024 talks ended, with Simon Trott now leading the company, and Glencore has reorganized its coal assets.
