| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Rio Tinto Plc (NYSE:RIO) and Glencore Plc (OTC:GLNCY), two of the largest mining companies in the world, have engaged in preliminary discussions about merging their businesses.
What To Know: According to Bloomberg, the talks, which remain in the early stages, have not been confirmed as ongoing. Sources, who requested anonymity due to the confidentiality of the information, noted the uncertainty surrounding whether the discussions will progress further. Representatives from Rio Tinto declined to comment, while Glencore did not immediately respond to statement requests.
Shares of both companies reacted to the news. Rio Tinto’s stock dropped 2.03% during recent trading, likely reflecting investor caution surrounding the uncertainty of the talks. Meanwhile, Glencore's stock surged 7.76%, potentially driven by market optimism about the potential synergies and scale such a merger could deliver.
This development, if it progresses, could have significant implications for the global mining industry, given the combined operational reach and resource portfolio of the two firms.
Price Action: Rio Tinto shares were down 1.70% at $59.43 and Glencore PLC shares were up 5.32% at $9.53 at the time of writing, according to Benzinga Pro.
Read Next:
Photo by solarseven on Shutterstock.
