Rio Tinto confirms that no discussions are taking place with Glencore (GLNCY)
Co's Board notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore. The Rio Tinto board confirms that no discussions are taking place with Glencore.
* In July 2014, Glencore contacted Rio Tinto regarding a potential merger of Rio Tinto and Glencore. The Rio Tinto board, after consultation with its financial and legal advisers, concluded unanimously that a combination was not in the best interests of Rio Tinto's shareholders.
* The board's rejection was communicated to Glencore in early August and there has been no further contact between the companies on this matter.
* Rio Tinto remains focused on the successful execution of its strategy, which the board of Rio Tinto is confident will continue to deliver significant and sustainable value for shareholders.