Rio Tinto Rules Out Merger Bid for Glencore Under UK Takeover Code

Rio Tinto Limited ( (AU:RIO) ) just unveiled an announcement.

On 5 February 2026, Rio Tinto plc and Rio Tinto Limited announced that they have ended consideration of a possible merger or other business combination with commodities group Glencore plc, concluding after a formal assessment that no deal structure could be agreed that would deliver sufficient value to Rio Tinto shareholders. The decision, assessed through the capital allocation framework outlined at the company’s December 2025 Capital Markets Day, underscores management’s emphasis on long-term value creation and shareholder returns and, under UK takeover rules, now binds Rio Tinto to Rule 2.8 restrictions on making an offer for Glencore except in specified circumstances such as a board-supported approach, a competing third-party bid, a reverse takeover or a material change in circumstances as determined by the Takeover Panel.

The most recent analyst rating on (AU:RIO) stock is a Buy with a A$173.00 price target. To see the full list of analyst forecasts on Rio Tinto Limited stock, see the AU:RIO Stock Forecast page.

More about Rio Tinto Limited

Rio Tinto Limited, together with Rio Tinto plc, is a global diversified mining and metals group with major operations across iron ore, aluminium, copper and other minerals, serving industrial and infrastructure markets worldwide from hubs in the United Kingdom and Australia.

Average Trading Volume: 1,314,321

Technical Sentiment Signal: Buy

Current Market Cap: A$230.7B

For an in-depth examination of RIO stock, go to TipRanks’ Overview page.