Rio Tinto Not Looking at Mergers to Raise Defences Against Glencore

Global mining company Rio Tinto (RTNTF) <RIO. L> is not looking to make any major acquisition to protect itself from a potential Glencore takeover, chief executive Sam Walsh said at a meeting with investors on Thursday.

"Let me just reassure you ... We are not looking at any major mergers or acquisitions," Walsh said in response to speculation that the company might rush to make an acquisition to raise its defences against a takeover by Glencore.

In October, Rio Tinto said that it had rejected a takeover approach from smaller rival Glencore.

Reporting by Silvia Antonioli