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Switzerland: Glencore merger would create world’s top miner

 |  October 6, 2014

Glencore PLC is reportedly looking to acquire Rio Tinto Group within the next year, a deal that would result in the world’s largest mining company.

Unnamed sources said the merged company would be worth about $160 billion. The company has already reached out to top Rio shareholder Aluminum Corp of China to discuss a possible deal, reports say. Following the reports, Rio came out to deny the plans of a merger, telling reporters that the company rejected a Glencore offer last August.

Rio says no further merger discussions have happened since.

But if a deal is reached, it could culminate in the world’s largest miner, pushing Glencore past current market leader BHP Billiton.

Full content: Bloomberg

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