Glencore (GLNCY) is near engaging Citi (C) as its lead investment bank on its potential takeover by Rio Tinto (RIO) in a deal that could establish the globe’s biggest miner worth over $200B, Reuters’ Divya Rajagopal and Clara Denina report, citing two people familiar with the matter. Citigroup Global Markets filed disclosures with the U.K. Takeover Panel last month, identifying itself as linked with Glencore in relation to a potential merger with Rio Tinto, the authors note.
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