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'Rio wanted premium for Glencore deal'

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The Glencore deal with Rio Tinto would have been the industry's largest. Glencore abandoned the bid on Oct 7 after it was rebuffed by Rio Tinto.

Sydney

RIO Tinto Group shareholders would demand a premium of as much as 30 per cent in any deal with Glencore Plc, making a tie-up unlikely due to a lack of synergies, said Alberto Calderon, a former BHP Billiton Ltd. executive.

"The issue is mergers of mining companies generally