Overview
- Both companies said discussions could include an all-share acquisition of Glencore executed via a court‑sanctioned scheme of arrangement.
- The potential combination is reported to carry an enterprise value above $260 billion, with a combined market value around $200 billion.
- Shares moved on the news, with Glencore rising sharply as Rio fell on investor concern over price and deal complexity.
- Analysts flag unresolved questions on valuation, leadership, antitrust exposure and how to handle Glencore’s large coal and trading units.
- Talks revive a 2024 approach that collapsed, as majors pursue copper scale to meet energy transition and AI‑driven demand.