UPDATE: Rio Tinto, Glencore abandon mega merger plan

Rio Tinto, one of the world's largest mining companies, confirmed on Thursday that it is no longer pursuing a potential merger or other forms of business combination with Switzerland-based mining giant Glencore.

The two companies disclosed last month that they were in preliminary discussions about a possible combination of some or all of their businesses, including an all-share merger in which Rio Tinto would acquire Glencore, as reported. Explaining the decision to move away from the mega deal that would have created the