European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Rio Tinto: Glencore Bid – From Simplified to Sprawling?

Selected European HoldCos and DLC: January 2026 Report

Industrivärden FY 2025: Quality Compounder, Tight Discount

Digging Deeper: The Vote Failed, But the Value in Rio Tinto’s Dual Listing Remains Untapped

Rio Tinto Dual-Listed Company (DLC) Unification Analysis

2025 in Review: Selected European Holding Companies & DLCs

Selected European HoldCos and DLC: December 2025 Report

Selected European HoldCos and DLC: November 2025 Report

Event-Driven

<ul>
<li>Rio–Glencore talks revived: Confirmed 9 January, reopening strategic pressure on Rio’s dual-listed structure amid record copper prices and renewed sector consolidation.</li>
<li>Spread reacts to structure, not sentiment: Ltd–plc premium tightened from ~23% to ~19%, signalling rising market sensitivity to DLC inefficiency under M&amp;A stress.</li>
<li>Optionality improves, timing uncertain: No unification signal yet, but M&amp;A introduces a forcing mechanism activism failed to deliver.</li>
</ul>


Rio–Glencore talks revived: Confirmed 9 January, reopening strategic pressure on Rio’s dual-listed structure amid record copper prices and renewed sector consolidation.
Spread reacts to structure, not sentiment: Ltd–plc premium tightened from ~23% to ~19%, signalling rising market sensitivity to DLC inefficiency under M&amp;A stress.
Optionality improves, timing uncertain: No unification signal yet, but M&amp;A introduces a forcing mechanism activism failed to deliver.


Rio Tinto / Glencore: M&A as a Stress Test for the Dual-Listed Structure

Rio Tinto Ltd

Rio Tinto / Glencore: M&A as a Stress Test for the Dual-Listed Structure