Carmelia Argana

I think the main point to consider is that there was this disagreement that they just couldn't get over between Rio Tinto and Glencore regarding the premium that Rio would be paying to acquire Glencore shares.

Now, Rio is almost twice the size of Glencore in terms of market capitalization.

But from our reporting, from Bloomberg News reporting,

I understand that Glencore had been seeking a share exchange ratio that would have given investors about 40% of the company.

So it was really that disagreement about the premiums that caused that deal to fall through.

I think the main point to consider is that there was this disagreement that they just couldn't get over between Rio Tinto and Glencore regarding the premium that Rio would be paying to acquire Glencore's shares.

Now, Rio is almost twice the size of Glencore in terms of market capitalization.

But from our reporting, from Bloomberg News reporting,

I understand that Glencore had been seeking a share exchange ratio that would have given investors about 40% of the company.

So it was really that disagreement about the premiums that caused that deal to fall through.