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

Rio returns with higher Turquoise Hill offer Rio returns with higher Turquoise Hill offer Rio returns with higher Turquoise Hill offer Rio returns with higher Turquoise Hill offer Rio returns with higher Turquoise Hill offer

Oyu Tolgoi in Mongolia

The original US$2.7 billion bid was made in March.

The 18% higher new offer for the 49% of Turquoise Hill which Rio doesn't already own increases the deal to $3.