Glencore Ups Ante With Revised Bid for Coal and Allied; Rio Tinto Shareholders Should Approve
We maintain our fair value estimates for no-moat-rated Glencore and Rio Tinto with Glencore’s improved offer for Rio Tinto’s Coal and Allied. Glencore has upped its offer for Rio Tinto’s assets to USD 2.675 billion plus a coal-linked royalty, up from USD 2.55 billion previously. The full amount is now payable on completion, while the previous offer included a deferred component. Rio Tinto will decide prior to the planned shareholder meeting (set for June 27) whether the proposal is superior to Y...Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
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