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Glen core wants to buy out Rio Tinto and create the worlds largest mining company. It would also give the Chinese a back door entrance into Australia's minerals business.
Glencore bought up much of Viterra (they bought up Viterra, then sold off some of the assets I believe to Agrium and others) and what they didn't own of Xstrata. Now going after Rio Tinto. Interesting. Hopefully buying Rio Tinto will go much more smoothly than the Xstrata purchase, which at one point saw Tony Blair come in to help negotiate.
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http://mobile.bloomberg.com/news/2014-10-06/rio-rejects-glencore-approach-has-had-no-more-contact.html