Rio Tinto has walked away from merger talks with Glencore, as the two miners couldn’t strike a deal that delivered sufficient value to shareholders, reported Reuters.
The proposed merger, first announced in January, would have created the world’s largest mining company, with a market value exceeding $200 billion.
The news agency noted that this was the second round of failed discussions in just over a year, following an earlier approach by Glencore in late 2024, and the third in total. The talks late last year were also initiated by Glencore, according to a source familiar with the matter.
The companies did not reveal the terms proposed and rejected.
Source: Reuters