Perhaps even more significantly, he added that the Glencore merger proposal might have put pressure on Rio Tinto management which was looking more closely at the company's share price "rather than long-term shareholder value" Whatever the cause of the market flooding there seems little doubt that a process has been started which could be have unexpected and ugly outcome for everyone exposed to iron ore. Smaller companies will obviously suffer as the price is crushed by excess production. The WA Government's royalty income will take a haircut despite the higher tonnage being shipped, and the flooding could prove to be just one dramatic result of the Glencore merger proposal.