Rio Tinto and Glencore abandon revived $260bn merger plan

After weeks of talks mining companies say they cannot reach a deal that delivers value for shareholders Rio Tinto and Glencore have abandoned plans for a $260bn merger, walking away from a deal that would have created the world’s largest mining company. Rio Tinto said it was no longer considering a “merger or other business combination” with Glencore after it “determined that it could not reach an agreement that would deliver value to its shareholders”.