.RioTinto and TurquoiseHillRe have struck an in-principle $3.3billion takeover offer, giving Rio control of the Oyu Tolgoi copper mine in Mongolia takeover acquisition mining investment resources capital funding
PERTH – Diversified miner Rio Tinto has reached an in-principle agreement to acquire the remaining 49% interest in TSX- and NYSE-listed Turquoise Hill, which it does not already own.
“Securing the approval of the Special Committee to our agreement in principle, following extensive negotiations, was essential for Rio Tinto to progress this proposed transaction,” said Baatar. The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act and both companies intend to expeditiously finalise an arrangement agreement.
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