Two mining giants are plotting a merger that creates an absolute corporate behemoth. Weil Gotshal & Manges bagged the lead role representing Glencore, while A&O Shearman guides Rio Tinto through negotiations potentially worth two hundred sixty billion dollars. David Avery-Gee and Sarah Flaherty are running point for Glencore during these discussions.
This combination would birth the largest mining entity globally while shattering previous records set decades ago. Both corporations confirmed they started chatting about combining some or all operations. Rio Tinto seemingly holds the upper hand in acquiring its rival, given its massive enterprise value.
Global diggers are desperate to hoard metals like copper needed for data centers and energy transitions. Glencore bosses claimed previously that their current portfolio positions them to dominate production soon. Securing more resources apparently matters more than antitrust concerns or market balance.
Picking an American shop over local British solicitors signals a massive shift in London legal power. Glencore historically hired Linklaters for huge moves like purchasing Xstrata or launching its public offering. Avery-Gee ditching that magic circle firm for Weil clearly paid off with this gig.
Linklaters still keeps busy advising Rio Tinto on other stuff like buying Arcadium Lithium recently. They also handled joint ventures for Peruvian copper projects. However, missing out on the main ticket here definitely stings for those legacy English partners.
This combination would birth the largest mining entity globally while shattering previous records set decades ago. Both corporations confirmed they started chatting about combining some or all operations. Rio Tinto seemingly holds the upper hand in acquiring its rival, given its massive enterprise value.
Global diggers are desperate to hoard metals like copper needed for data centers and energy transitions. Glencore bosses claimed previously that their current portfolio positions them to dominate production soon. Securing more resources apparently matters more than antitrust concerns or market balance.
Picking an American shop over local British solicitors signals a massive shift in London legal power. Glencore historically hired Linklaters for huge moves like purchasing Xstrata or launching its public offering. Avery-Gee ditching that magic circle firm for Weil clearly paid off with this gig.
Linklaters still keeps busy advising Rio Tinto on other stuff like buying Arcadium Lithium recently. They also handled joint ventures for Peruvian copper projects. However, missing out on the main ticket here definitely stings for those legacy English partners.
