Jpmorgan Starts Selling A Chunk Of $20 Billion Ea Buyout Debt

Reuters

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Banks Ready $7.9 Billion Debt Sale To Finance Sealed Air Buyout

Reuters

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Dj American Express Falls After Earnings. The Stock Is Having A Rocky Start To 2026. - Barrons.Com

Reuters

American Express

-1.77%

Capital One Financial

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REG - JP Morgan Sec LLC Rio Tinto - Form 8.5 (EPT/NON-RI)-Rio Tinto plc and Limited

London Stock Exchange

RNS Number : 1313R J.P. Morgan Securities LLC 30 January 2026

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Name of exempt principal trader:	J.P. Morgan Securities LLC
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Rio Tinto plc and Limited
(c) Name of the party to the offer with which exempt principal trader is connected:	Corporate Broker to Rio Tinto plc and Rio Tinto Limited
(d) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	29 January 2026
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A"	Yes, Glencore plc

2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	ADR
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	1,371,538	0.11	687,895	0.05
(2) Cash-settled derivatives:	49,509	0.00	2,019,297	0.16
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	301,062	0.02	235,500	0.02
TOTAL:	1,722,108	0.13	2,942,692	0.23

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
ADR	Purchase	37,691	95.1300 USD	93.3700 USD
ADR	Sale	45,492	96.3400 USD	93.3700 USD

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
ADR	Equity Swap	Opening a Long position Opening a Short position Decrease Short Increase Short	3,400 800 66 3,701 368	94.9827 USD 94.3637 USD 94.0239 USD 94.7169 USD 94.2747 USD

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit(USD)
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit

(ii)

Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None

Is a Supplemental Form 8 (Open Positions) attached?
Yes

Date of disclosure:	30 January 2026
Contact name:	Hetvi Shah
Telephone number:	44 2034 936359

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1. KEY INFORMATION

Full name of person making disclosure:	J.P. Morgan Securities LLC
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:	Rio Tinto plc and Rio Tinto Limited

2. STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

Class of relevant security	ADR
Product description e.g. call option	Call Option Put Option Put Option Put Option Put Option Call Option Call Option Call Option Call Option Call Option Call Option Call Option Put Option Put Option
Written or purchased	Purchased Written Purchased Written Written Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased Purchased
Number of securities to which option or derivative relates	35,000.00 200,000.00 500.0000 35,000.00 500.00 50,000.00 473.53 2,605.71 1,171.52 167.78 1,588.39 1,510.82 200,000.00 8,043.95
Exercise price per unit(USD)	100 GBP 60 GBP 55 GBP 75 GBP 70 GBP 80 GBP 1.1292 USD 1.1778 USD 1.1264 USD 1.2248 USD 1.1438 USD 1.1373 USD N/A 62.1585 USD
Type e.g. American, European etc.	American American American American American American American American American American American American American American
Expiry date	15/01/2027 18/06/2026 18/06/2026 15/01/2027 18/06/2026 20/03/2026 6/10/2026 10/4/2026 29/09/2026 15/10/2027 27/04/2026 4/11/2026 29/07/2026 25/03/2026

3. AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given so that the nature of the interest or position can be fully understood:

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

The currency of all prices and other monetary amounts should be stated.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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REG - J.P. Morgan SE Rio Tinto - Form 8.5 (EPT/NON-RI)-Rio Tinto plc and Limited

London Stock Exchange

RNS Number : 1285R J.P. Morgan SE 30 January 2026

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Name of exempt principal trader:	J.P. Morgan SE
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Rio Tinto plc and Rio Tinto Limited
(c) Name of the party to the offer with which exempt principal trader is connected:	Corporate Broker to Rio Tinto plc and Rio Tinto Limited
(d) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	29 January 2026
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A"	Yes, Glencore plc

2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	Ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	110,948	0.03	1,051	0.00
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00	0	0.00
TOTAL:	110,948	0.03	1,051	0.00

Class of relevant security:	10p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	2,575,164	0.21	2,101,875	0.17
(2) Cash-settled derivatives:	19,052	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00	0	0.00
TOTAL:	2,594,216	0.21	2,101,875	0.17

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
Ordinary	Purchase	586	156.9249 AUD	152.6446 AUD
Ordinary	Sale	586	156.9249 AUD	152.6446 AUD

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
10p ordinary	Purchase	77,925	69.9275 GBP	68.2986 GBP
		1,436	80.6300 EUR	79.5399 EUR
	Sale	76,732	70.0057 GBP	68.2986 GBP
		1,436	80.5600 EUR	78.4800 EUR

(b) Cash-settled derivative transactions

Class of relevant security
Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities
Price per unit

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit

(ii) Exercise

Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None

Is a Supplemental Form 8 (Open Positions) attached?
NO

Date of disclosure:	30 January 2026
Contact name:	Hetvi Shah
Telephone number:	44 2034 936359

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

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Auto1 gains after JPM places stock on positive catalyst watch, lifts price target

Investing.com

Investing.com -- Shares in German online car dealer Auto1 (ETR:AG1G) moved higher on Friday after JPMorgan placed the stock on its Positive Catalyst Watch and lifted its price target to €50 from €42, pointing to improving unit economics, rising volumes, and further earnings upgrades ahead of upcoming results.

The stock rose 4.2% by 10:23 GMT in Germany.

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JPMorgan analysts led by Marcus Diebel said their in-depth analysis of gross profit per unit and volume potential highlights “further growth potential,” prompting a 10% and 9% increase in their 2026 and 2027 EBITDA forecasts, respectively.

Despite a strong share price performance over the past year, they believe “the Auto1 investment case remains compelling,” supported by improving profitability across both its Merchant and Consumer segments.

Analysts expect GPU to continue improving, driven by enhanced pricing through artificial intelligence, the rollout of finance products and new revenue streams such as insurance and license plate printing.

"With the Consumer business now fit for purpose for 250k cars, management is now poised to push volumes and we see further GPU gains materializing without incremental costs, both translating into operational leverage and higher profits," they wrote.

The bank placed the stock on Positive Catalyst Watch ahead of Auto1’s full-year results in late February, citing upside to current EBITDA expectations and expectations of a constructive message around trading into 2026.

On the Merchant side, the analysts highlighted low penetration among European car dealers, arguing there is room for further efficiency gains and higher GPU beyond the company’s current guidance range.

For Autohero, they said consensus has yet to fully reflect improvements in pricing driven by AI and the growing contribution from financing and ancillary services.

The analysts also pointed to a "de-risked balance sheet," noting Auto1 has no corporate debt and holds significant liquidity through cash, inventory and captive finance assets.

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