Business
Statement re Glencore plc
Rio Tinto plc and Rio Tinto Limited have confirmed they are in preliminary discussions with Glencore plc regarding a possible combination of some or all of their businesses, which could involve an all-share merger where Rio Tinto acquires Glencore via a Court-sanctioned scheme of arrangement. Rio Tinto has until 5:00 p.m. on February 5, 2026, to announce a firm intention to make an offer or state that it does not intend to do so. The company reserves the right to vary the terms of any potential offer. Disclaimer*
About this update from Rio Tinto Plc
[{"type":"text","content":"\n\n \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\"). THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n \nStatement regarding Glencore plc (\"Glencore\")\n08 January 2026\n \nRio Tinto plc and Rio Tinto Limited (together, \"Rio Tinto\") note the announcement by Glencore and confirm that Rio Tinto and Glencore have been engaging in preliminary discussions 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 can be no certainty that an offer will be made or as to the terms of any such offer, should one be made. 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 and Rio Tinto reserves the right to introduce other forms of consideration and/or vary the mix or composition of consideration of any offer.\nIn accordance with Rule 2.6(a) of the Code, Rio Tinto will have until 5.00 p.m. (London time) on 5 February 2026 to either announce a firm intention to make an offer for Glencore under Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.\nA further announcement will be made in due course as appropriate.\nThis announcement is authorised for release to the market by Andy Hodges, Rio Tinto's Group Company Secretary.\n \nContacts\nPlease direct all enquiries to [email protected]\n \n\n\n\n\nMedia Relations,\nUnited Kingdom\n \nMatthew Klar...