Rio Tinto Expected to Offer Premium to Buy Glencore -- Market Talk

Dow Jones01-19 10:16

0216 GMT - RBC Capital Markets expects Rio Tinto will make an all-scrip offer for Glencore valued roughly 27% higher than the Swiss miner's undisturbed share price. "A merger of Glencore and Rio Tinto that was thought by many as an unserious conversation just over a year ago, has now found its sweet spot after a strong copper rally, heightened resource scarcity fears and an Argentina turnaround," RBC says in a note. Yet the structure of any bid "has prompted plenty of debate" and won't be straightforward, the broker says. RBC reckons Rio Tinto should offer to buy the whole business without a requirement for carve outs. "Otherwise it might open [the] door to BHP" to make a rival bid, RBC says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

January 18, 2026 21:16 ET (02:16 GMT)

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Yet the structure of any bid \"has prompted plenty of debate\" and won't be straightforward, the broker says. RBC reckons Rio Tinto should offer to buy the whole business without a requirement for carve outs. \"Otherwise it might open [the] door to BHP\" to make a rival bid, RBC says. 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Yet the structure of any bid \"has prompted plenty of debate\" and won't be straightforward, the broker says. RBC reckons Rio Tinto should offer to buy the whole business without a requirement for carve outs. \"Otherwise it might open [the] door to BHP\" to make a rival bid, RBC says. 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Yet the structure of any bid \"has prompted plenty of debate\" and won't be straightforward, the broker says. RBC reckons Rio Tinto should offer to buy the whole business without a requirement for carve outs. \"Otherwise it might open [the] door to BHP\" to make a rival bid, RBC says. 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