Rio Tinto: set to acquire rest of Turquoise Hill
(CercleFinance.com) - Rio Tinto is to acquire all of the remaining shares in Turquoise Hill Resources that it does not already own.
The board of Turquoise Hill unanimously recommends that minority shareholders vote in favour of Rio Tinto's best and final offer of C$43 per share in cash. This represents a 67% premium to Turquoise Hill's closing price of C$25.68 per share on 11 March 2022.
This transaction rewards all minority shareholders and provides the financial certainty necessary to ensure that the Oyu Tolgoi project in Mongolia can be developed, management said.
A special meeting of Turquoise Hill shareholders to approve the transaction is expected to take place in Q4 2022.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The board of Turquoise Hill unanimously recommends that minority shareholders vote in favour of Rio Tinto's best and final offer of C$43 per share in cash. This represents a 67% premium to Turquoise Hill's closing price of C$25.68 per share on 11 March 2022.
This transaction rewards all minority shareholders and provides the financial certainty necessary to ensure that the Oyu Tolgoi project in Mongolia can be developed, management said.
A special meeting of Turquoise Hill shareholders to approve the transaction is expected to take place in Q4 2022.
Copyright (c) 2022 CercleFinance.com. All rights reserved.