Rio Tinto taps JPMorgan, Evercore, Macquarie, UBS for Glencore tilt: Bloomberg
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The news: Rio Tinto has appointed a slate of bankers to advise on its takeover pursuit of Glencore, including a top UK rainmaker, according to sources cited by Bloomberg.
The context: The masthead reported that the miner will bring on leading UK banker Simon Robey of Evercore, as well as JPMorgan, to join Macquarie and UBS, after reviving discussions about a possible merger with Anglo-Swiss multinational Glencore.
Citigroup is also reportedly attempting to get a role on the deal, sources said.
Data compiled by Bloomberg shows that Citigroup, JPMorgan and UBS have all gone restricted or suspended their ratings on Rio and Glencore shares in recent days.
Banks have been jostling for a spot on the high-profile deal since the firms restarted talks earlier this month.
The numbers: The deal, which was under discussion as recently as this week, would create a merged entity with an enterprise value of more than USD260 billion ($388 billion), the report said, citing people familiar with the matter.
The source: Bloomberg
