M&A

Turquoise Hill formally rejects C$2.7B Rio Tinto offer

THE special committee formed by Turquoise Hill Resources to evaluate Rio Tinto's unsolicited proposal to acquire the remaining 49% of the company it doesn't already own has been knocked back, with independent directors deeming the offer price of C$34 per share "well below" where it should be.

Nathan Richardson, Kristie Batten

Oyu Tolgoi in Mongolia

Oyu Tolgoi in Mongolia

"Market conditions in the equity and copper markets have changed significantly since the receipt of Rio Tinto's privatisation proposal in March. At the same time, the company has continued to make positive...

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