BHP (BHP) will wait out Rio Tinto’s (RIO) talks to take over Glencore (GLNCY) and is not currently planning a rival bid for the Swiss firm, two people familiar with the matter told Reuters’ Clara Denina and Amy-Jo Crowley. Last week, Rio Tinto noted an announcement by Glencore and confirmed that Rio Tinto and Glencore have been engaging in preliminary discussions about a possible combination of some or all of their businesses.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLNCY:
- Rio Tinto’s bid for Glencore could pressure BHP to action, Reuters says
- Rio Tinto confirms preliminary combination talks with Glencore
- Glencore confirms preliminary talks with Rio Tinto about possible combination
- Glencore, Rio Tinto resume talks on mining megadeal, FT reports
- Glencore price target raised to 480 GBp from 430 GBp at RBC Capital