By Benjamin Horney ( November 24, 2014, 5:17 PM EST) -- Commodities giant Glencore PLC is closing in on a deal to take over mining giant Rio Tinto Group, according to a Monday report from Bloomberg. The report said that a "prominent London mining baker" recently informed a number of Rio Tinto shareholders, including hedge funds GLC Partners, DE Shaw & Co. and Pentwater Capital Management, of the impending deal. The news comes just over a month after Rio Tinto said it was not currently exploring a merger. Rumors of a deal between the two, which would reportedly create a mining mammoth worth roughly $160 billion, have been rampant since at least early October....
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