Rio Walks Away From Glencore Mega Merger on Price Impasse

Rio Tinto Group is walking away from talks to acquire Glencore Plc after the two sides failed to agree on valuation, scuttling a potential mega merger that would have created the world’s largest mining company.

Rio said it does not intend to make an offer for its smaller rival, shortly after Bloomberg News reported that the talks would be abandoned. The deal would have been the largest in a series of attempted takeovers among the world’s top miners, as executives look to bulk up in copper and boost their valuations to gain more relevance with global investors.