M&A

Rio returns with higher Turquoise Hill offer

A WEEK after the board of Turquoise Hill Resources knocked back a C$34 per share takeover offer from Rio Tinto, Rio has returned with an increased offer of $40 per share. has increased its offer to buy Turquoise Hill Resources to C$40 per share a week after its original C$34 per share unsolicited offer was knocked back as being "well below" where it should be. Rio launched a US$2.7 billion bid in March