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.
- Industry
- Industrial Services
- Location
- Quebec, Canada
- Transaction Type
- Buyout
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