Rio Tinto Rejected Takeover Approach From Glencore

Rio Tinto Group rejected in August a merger approach from Glencore Plc and has had no further contact over a potential deal that would have created the world’s largest mining company.

Glencore made a merger proposal in July, which was unanimously rejected by Rio Tinto’s board, London-based Rio said today in a statement. After being rebuffed by the board, Glencore has reached out to Rio’s biggest investor, Aluminum Corp. of China, to gauge its interest in a potential deal in the next year, according to people familiar with the matter.