DIVERSIFIED MINER
Major Rio Tinto said it was ‘disappointed’ by the decision of takeover target Turquoise Hill’s Special Committee to reject its C$34 a share cash bid.
The Special Committee this week said that Rio’s bid for the company did not ‘fully and fairly’ reflect the value of its majority interest in the Oyu Tolgoi copper project, in Mongolia, and that Rio’s offer price was ‘well below’ a range of values implied by a value analysis conducted by TD Securities.
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