Turquoise Hill to Consider Rio Tinto Proposal
14 March 2022 - 11:21PM
Dow Jones News
By Adriano Marchese
Turquoise Hill Resources Ltd. said Monday it will establish a
special committee to review Rio Tinto PLC's offer to acquire the
remaining 49% of the company.
The Canadian miner said the committee will comprise independent
directors, who will review and consider the proposal.
Earlier on Monday, the U.K. miner offered a premium of 34
Canadian dollars (US$26.68) in cash a share for Turquoise Hill,
which would value the company at about $2.7 billion.
Turquoise Hill is a mining company focused on the operation and
development of the Oyu Tolgoi copper-gold mine in Mongolia, in
which it holds a 66% interest, with a Mongolian state-owned entity
owning the remainder.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 14, 2022 08:06 ET (12:06 GMT)
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