Glencore hopes rising coal prices revive Rio Tinto deal
Glencore CEO Gary Nagle hopes rising coal prices will help revive merger talks with Rio Tinto. Shifting valuations could favor a deal after a six-month pause.
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Gary Nagle, the CEO of Glencore plc, is reportedly seeking to revive merger discussions with Rio Tinto, banking on a recent surge in coal prices to bring the mining giant back to the negotiating table. Earlier this year, the two companies were engaged in talks to create a $240 billion entity that would combine Glencore's marketing and copper assets with Rio Tinto's operational scale. Those discussions ended in February due to significant disagreements over valuation.
