Glencore stock jumps on Rio Tinto deal talks — what GLEN.L investors watch next
Glencore shares jumped 9.6% to 452.65 pence in London after Rio Tinto confirmed preliminary talks on a possible all-share merger. Rio has until Feb. 5 to make a firm offer or withdraw, under UK takeover rules. Investors are weighing Glencore’s coal exposure and trading arm value as the deal could create a $207 billion mining giant. The UK Takeover Panel set a Jan. 22 deadline for position disclosures.