Rio Tinto and Glencore - To merge or not to merge... Last week RIO announced it had been approached by Glencore (GLEN.LSE) regarding the potential for a merger which was rejected back in August. We don't know if Glencore will come back to the table but it is clear that M&A activity has stepped up the ladder to the top tier miners. Clearly the super-majors see value in such deals for long term multi-decade growth - effectively the smart money is looking to buy and this could be signalling we are close to a bottom in the cycle. Read more on the Morgans blog: (VIEW LINK)