Post by
Riotintoe on Jan 16, 2025 6:37pm
Rio/Glencore
The first report of this was published by Bloomberg at 12:52 p.m. (CST). Their headline read "Rio Tinto, Glencore discuss potential combination in mining's biggest ever deal."
Pretty much misleading as is typical for Bloomberg lately. The Financial Times has ferreted out the story a little bit better...
"Rio Tinto and Glencore held talks last year about combining part or all of their businesses, in an indication of how the push by mining companies to secure metals needed for the energy transition has focused executives on large-scale deals. The London-listed companies engaged in early-stage talks as recently as October, according to people familiar with the matter, but the discussions did not progress to a deal."
Bloomberg played a little fast and loose with their reporting. I doubt if they had conveyed this additional information Rio would know traded over 10 million shares today.
Comment by
Sooner on Jan 16, 2025 9:16pm
And didn't Rio specifically state recently better to develop new assets than mega acquisition???
Comment by
Riotintoe on Jan 16, 2025 9:39pm
Yes .. I'm rather inclined to think the initia lBloomberg article (especially the headline) was pupurposely misleading. I don't think a high school newspaper would make that mistake. Pretty reckless...