Glencore’s London-listed shares popped 8% on Friday morning, after it was confirmed a possible $260 billion takeover bid from Rio Tinto was back on the table.
Shares were last seen 8.5% higher. Meanwhile, London-listed shares of Rio Tinto fell 2.6%, after its Australian shares ended Friday’s session 6.3% lower.
“ $RIO.L (Rio Tinto) and $GLEN.L (Glencore Plc) have been engaging in preliminary discussions about a possible combination of some or all of their businesses, which could include an all-share merger between Rio Tinto and Glencore,” Rio Tinto, the larger of the two companies, said in a statement early Friday morning.
“The parties’ current expectation is that any merger transaction would be effected through the acquisition of Glencore by Rio Tinto by way of a Court-sanctioned scheme of arrangement.”
If completed, the deal would create the world’s largest mining company. Rio Tinto’s market cap is around 209 billion Australian dollars ($139.7 billion), while Glencore’s is around £48.5 billion ($65.1 billion) — a combined $204.8 billion.
Source: www.cnbc.com/2026/01/09/rio-tinto-glencore-talks-mega-merger-mining.html... Show More
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Tue Feb 10 2026 07:05:39 GMT+0000 (Coordinated Universal Time)
