Glencore, page-4

11 billion would be less than $4 a share. Can't see Twiggy jumping at that unless the company were in dire straits or script involved

DANIEL PALMER 37 MIN AGO DATAROOM DEALMAKERS MERGERS & ACQUISITIONSEQUITY CAPITAL MARKETSDEBT CAPITAL MARKETSBREAKFAST DEALS INDUSTRIES RESOURCES AND ENERGY Rumours of Glencore coming back to test the waters on a Rio Tinto takeover next year have reached fever pitch, but could the Ivan Glasenberg-led firm have its eyes on another iron ore heavyweight? Glencore is almost certainly weighing a fresh approach for control of Rio Tinto next year, but the latest speculation suggests a bid for local iron ore giant Fortescue Metals Group could take the prospect of a Rio deal off the table. According to The Australian Financial Review, Glencore CEO Ivan Glasenberg may have held discussions with Fortescue during a quick visit to Perth last week, with an $11bn-plus offer not out of the question in coming months. Should an offer eventuate, its success or failure will come down to one man: Fortescue founder Andrew Forrest, who owns a third of the miner. It’s very hard to see Forrest selling in such a weak market, but the rumours suggest he might be tempted should a high enough premium be put forward.