Glencore Nears Engagement with Citi for Rio Tinto Takeover
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Glencore (GLNCY) is near engaging Citi (C) as its lead investment bank on its potential takeover by Rio Tinto (RIO) in a deal that could establish the globe's biggest miner worth over $200B, Reuters' Divya Rajagopal and Clara Denina report, citing two people familiar with the matter. Citigroup Global Markets filed disclosures with the U.K. Takeover Panel last month, identifying itself as linked with Glencore in relation to a potential merger with Rio Tinto, the authors note.
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Analyst Views on C
Wall Street analysts forecast C stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for C is 125.50 USD with a low forecast of 87.00 USD and a high forecast of 146.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
13 Buy
3 Hold
0 Sell
Strong Buy
Current: 115.740
Low
87.00
Averages
125.50
High
146.00
Current: 115.740
Low
87.00
Averages
125.50
High
146.00
About C
Citigroup Inc. is a global diversified financial services holding company. The Company’s segments include Services, Markets, Banking, Wealth and U.S. Personal Banking (USPB). The Services segment includes Treasury and Trade Solutions (TTS) and securities services. TTS provides an integrated suite of tailored cash management, trade and working capital solutions to multinational corporations, financial institutions and public sector organizations. The Markets segment provides corporate, institutional and public sector clients around the world with a full range of sales and trading services across equities, foreign exchange, rates, spread products and commodities. The Banking segment includes investment banking, which supports client capital-raising needs to help strengthen and grow their businesses. The Wealth segment includes Private Bank, Wealth at Work and Citigold and provides financial services to a range of client segments. USPB segment includes branded cards and retail services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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