Rio Tinto Raises Bid for Turquoise Hill 18% to $3.1 Billion
August 24 2022 - 08:25AM
Dow Jones News
By Ian Walker
Rio Tinto PLC on Wednesday raised its takeover proposal for
Turquoise Hill Resources Ltd. by 18%, valuing the Canadian-listed
company at US$3.1 billion.
Under the latest proposal accepting Turquoise Hill Resources
shareholders will get 40 Canadian dollars (US$30.87) for each share
held, up from Rio's previous offer of $34 a share, which was
rejected by the Canadian Company.
Turquoise Hill, which is 51%-owned by Rio Tinto, has a 66%
interest in the Oyu Tolgoi copper-gold mine in Mongolia.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 24, 2022 09:10 ET (13:10 GMT)
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