BHP stock back in play as Rio-Glencore talks raise the stakes for big miners
Rio Tinto confirmed preliminary takeover talks with Glencore, aiming for an all-share buyout, sending Glencore shares up over 10% and Rio down as much as 3% on Friday. BHP shares closed up 0.8% in Sydney at A$47.72 as investors watched for its next move ahead of a Jan. 20 production update. Rio faces a Feb. 5 deadline to make a firm offer or walk away.