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Reuters
Reuters
Business

Glencore says will respond in due course after Rio favours Yancoal bid

FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, September 30, 2015. REUTERS/Arnd Wiegmann/File Photo

LONDON (Reuters) - Glencore <GLEN.L> on Tuesday said it would review its options after Rio Tinto <RIO.L><RIO.AX> said it was sticking to a recommendation of China-backed Yancoal <YAL.AX> as the preferred buyer of its Coal & Allied division in Australia.

In a statement, Glencore, which had made a higher offer than Yancoal, said it would respond "in due course".

(Reporting by Barbara Lewis. Editing by Jane Merriman)

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