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Rio Tinto Group (RTNTF)

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76.35+1.25 (+1.66%)
At close: 03:07PM EDT
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  • Reuters

    UPDATE 1-Turquoise Hill to receive debt funding from Rio Tinto as it evaluates $2.7 bln offer

    Canada's Turquoise Hill Resources Ltd said on Wednesday Rio Tinto will provide it interim debt funding of up to $400 million while it evaluates the Anglo-Australian miner's $2.7 billion bid for the company. Rio Tinto in March had proposed to buy out the 49% of Turquoise Hill (TRQ) it does not already own for about $2.7 billion in cash, paving the way for direct ownership of the massive Oyu Tolgoi copper-gold mining project in Mongolia. However, the offer has seen opposition from major Turquoise Hill shareholders, including activist investor Pentwater Capital Management, who said the offer was too low.

  • Reuters

    Turquoise Hill to receive debt funding from Rio Tinto as it evaluates $2.7 bln offer

    Canada's Turquoise Hill Resources Ltd said on Wednesday Rio Tinto will provide it interim debt funding of up to $400 million while it evaluates the Anglo-Australian miner's $2.7 billion bid for the company. Rio Tinto in March had proposed to buy out the 49% of Turquoise Hill it does not already own for about $2.7 billion in cash, paving the way for direct ownership of the massive Oyu Tolgoi copper-gold mining project in Mongolia. However, the offer has seen opposition from major Turquoise Hill shareholders, including activist investor Pentwater Capital Management, who said the offer was too low.

  • Business Wire

    Rio Tinto agrees revisions to funding arrangements with Turquoise Hill Resources

    LONDON, May 18, 2022--Rio Tinto has agreed to amend the previously agreed funding plan with Turquoise Hill Resources (TRQ) (9 April, 2021) in order to provide liquidity of up to $400 million in short-term early advances, while the Special Committee of TRQ evaluates Rio Tinto’s C$34 per share all-cash proposal to acquire the approximately 49% of the issued and outstanding shares of TRQ that Rio Tinto does not currently own.