Rio Tinto to give revised Glencore offer 'appropriate consideration'

Diversified major Rio Tinto on Monday confirmed that it had received an improved offer from fellow diversified miner Glencore for its Australia subsidiary Coal & Allied (C&A). Glencore at the end of last week upped its offer from its initial $2.55-billion to $2.67-billion after Rio Tinto backed a $2.45-billion offer from Yancoal for the C&A assets, with Yancoal's offer already having received Japanese regulatory approval.