Rio Tinto Acquires Remaining Stake in Turquoise Hill Resources for C$43.00 per Share

November 18, 2022

Rio Tinto has agreed to terminate certain dissent-related agreements with minority shareholders tied to Pentwater Capital Management LP and SailingStone Capital Partners LLC, while its all-cash plan to acquire the ~49% of Turquoise Hill it does not already own will proceed. Under the proposed plan of arrangement, Turquoise Hill shareholders are offered C$43.00 per share in cash, supported by Rio Tinto’s commitments regarding dissent rights and related payments.

Buyers
Rio Tinto, Rio Tinto International Holdings Limited
Targets
Turquoise Hill Resources Ltd.
Location
Quebec, Canada
Transaction Type
Buyout

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