Winning Rio

Ivan Glasenberg's Glencore beats Rio on most metrics. A touted combination of the two companies could be very successful.

Summary: It’s worth taking seriously recent speculation of a Glencore takeover bid for Rio Tinto. Diversified commodities giant Glencore has a far stronger corporate culture and is more focused on shareholder returns. The Swiss giant has a greater mix of assets and could be interested in adding Rio’s prize low-cost iron ore operations. A combined Glencore-Rio, possibly executed with a share-swap and cash top up takeover bid, would be the biggest mining company in the world.

Key take-out: Glencore could succeed in a bid for Rio Tinto. The merged resources giant would be a “must-own” for investors seeking mining exposure.

Key beneficiaries: General investors. Category: Shares.

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