Rio Tinto chief executive Simon Trott was not for shifting. As merger talks with Glencore went down to the final hours on Friday morning, Trott insisted the starting point should be the relative valuations of the two companies on January 8 – the last time the two stocks traded without the expectation they would merge to create the world’s hugegest miner.
People close to the deal, speaking on condition of anonymity, state Simon Robey, a senior managing director at Evercore, the investment bank advising Rio, was particularly firm on this point. It effectively offered Glencore shareholders a 32 per cent stake in the combined group.
Loading…
Leave a Reply