Glencore Ends Active Pursuit of Rio Tinto on Spurned Bid

Glencore has decided to halt its acquisition talks with Rio Tinto, a major development in the mining industry. The decision comes amidst complex UK takeover laws, which require a six-month waiting period before any new offer can be made. Glencore's CEO, Ivan Glasenberg, had made an informal, non-premium bid to Rio Tinto's chairman, driven by the strategic value of Rio's iron ore assets. The iron ore market has seen a significant price drop, prompting Glencore to consider acquiring Rio Tinto at a lower cost. Although the talks have ended, Glencore reserves the right to make a future offer.

What major announcement did Glencore make regarding Rio Tinto?

• They are acquiring Rio Tinto.

• They are no longer pursuing an acquisition of Rio Tinto.

• They have merged with Rio Tinto.

• They have sold their shares in Rio Tinto.

What is the waiting period imposed by UK takeover laws before Glencore can make another offer?

• Three months

• Six months

• Nine months

• One year

How was the initial offer from Glencore's CEO to Rio Tinto made?

• Verbally

• In writing

• Via email

• Through a public announcement

Why is Rio Tinto considered a strategic acquisition for Glencore?

• Due to its gold reserves

• Because of its dependency on iron ore

• For its coal production

• Because of its copper mines

What would be the nature of any future bid by Glencore for Rio Tinto?

• Hostile

• Joint venture

• Friendly

• Silent partnership