Rio Tinto and Glencore confirm merger talks

(Sharecast News) - Miners Glencore and Rio Tinto confirmed on Friday that they are in preliminary talks about a possible combination of some or all of their businesses, which could include an all-share merger. Responding to press speculation, Glencore said there is no certainty that the terms of any transaction or offer will be agreed, nor as to the terms or structure of any such transaction or offer, if agreed.

Under UK takeover rules, Rio has until 1700 GMT on 5 February to either announce a firm intention to make an offer or walk away.

In 2014, Rio rejected a merger approach from Glencore.