Business
Statement regarding Rio Tinto
Glencore PLC has confirmed it is in preliminary discussions with Rio Tinto plc and Rio Tinto Limited regarding a potential combination of their businesses, which could involve an all-share merger where Rio Tinto acquires Glencore via a Court-sanctioned scheme of arrangement. There is no certainty that any transaction or offer will be agreed upon, nor as to its terms or structure. Rio Tinto is required to announce a firm intention to make an offer or state its intention not to by 5:00 p.m. on February 5, 2026. Glencore currently has 11,743,755,559 ordinary shares in issue. Disclaimer*
About this update from Glencore Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\nTHIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE NOR AS TO THE TERMS OF ANY SUCH OFFER\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n8 January 2026\nGlencore PLC (\"Glencore\")\nStatement regarding Rio Tinto\nGlencore notes recent media speculation and confirms that it is in preliminary discussions with Rio Tinto plc and Rio Tinto Limited (together, \"Rio Tinto\") about a possible combination of some or all of their businesses, which could include an all-share merger between Rio Tinto and Glencore. The parties' current expectation is that any merger transaction would be effected through the acquisition of Glencore by Rio Tinto by way of a Court-sanctioned scheme of arrangement.\nThere is no certainty that the terms of any transaction or offer will be agreed, nor as to the terms or structure of any such transaction or offer, if agreed. Nothing in this announcement shall be construed as indicating any terms of any such transaction or offer for the purposes of Rule 2.5 of the Code.\nA further announcement will be made as appropriate.\nIn accordance with Rule 2.6(a) of the Code, Rio Tinto is required, by not later than 5.00 p.m. on 5 February 2026, to either announce a firm intention to make an offer for Glencore in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Glencore, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will be extended only with the consent of the Panel in accordance with Rule 2.6(c) of the Code.\nDisclosure requirements of the Code\nUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosu...