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UK/Switzerland: Mining giant Glencore weighs up new bid for rival Rio Tinto

By  |  April 6, 2015

Mining giant Glencore could launch a new bid for rival Rio Tinto as early as today.

Rio Tinto rejected an earlier approach on October 7 last year, triggering a six-month period under UK law during which Glencore was barred from making another offer.

The cooling-off period expired on Monday, so Glencore chief Ivan Glasenberg can launch a fresh bid.

A £100billion mega-merger would create the world’s largest miner two years after Glencore’s £41bn tie-up with Xstrata.

A spectacular global fall in the price of iron ore, which accounts for half of Rio’s business, has put the mining giant within reach of the ever-ambitious Glasenberg.

 

Full Content: The Wall Street Journal

 

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