Rio Tinto (RIO) and Glencore's merger talks are expected to extend beyond Thursday's deadline, as differences remain between the two companies, the Financial Times reported Wednesday, citing people close to the negotiations.
While Rio Tinto is pushing for its chair and chief executive to keep their positions following any merger, Glencore is holding out for a steep premium, the report said.
With the "put up or shut up" deadline fast approaching, Rio Tinto needs to signal its firm intent to make an offer for Glencore or walk away from a potential deal, unless the two miners agree to extend, the Financial Times said.
Rio Tinto and Glencore did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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