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Rio Tinto PLC and Glencore PLC have been discussing combining their businesses in what could result in the industry’s largest-ever deal, Bloomberg said on Thursday.
According to Bloomberg sources, Rio and Glencore have recently held early-stage talks about a deal, although it is unclear whether the talks are still live.
Rio Tinto is British-Australian multinational company that is the world’s second-largest metals and mining corporation. At Thursday’s closing share price of 4,931.50 pence, it had a market value of £85.51 billion.
Glencore is a commodities trader and miner based in Barr, Switzerland. At Thursday’s closing share price of 370.50p, it had a market value of £45.49 billion.
Combining the two businesses would potentially create a company to leapfrog longstanding industry leader BHP Group, which is worth about $126 billion.
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