https://www.miningweekly.com

Rio Tinto to give revised Glencore offer 'appropriate consideration'

26th June 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Diversified major Rio Tinto on Monday confirmed that it had received an improved offer from fellow diversified miner Glencore for its Australia subsidiary Coal & Allied (C&A).

Glencore at the end of last week upped its offer from its initial $2.55-billion to $2.67-billion after Rio Tinto backed a $2.45-billion offer from Yancoal for the C&A assets, with Yancoal's offer already having received Japanese regulatory approval.

Rio on Monday told shareholders that the company would give the new Glencore offer “appropriate consideration” and would give feedback to the company's shareholders ahead of the company's general meeting scheduled for June 27.

If the company formed the opinion that the revised Glencore offer was superior to the existing Yancoal offer, the Rio board would adjourn the planned general meeting. If this step was taken, Yancoal would have two business days in which to present a counter offer.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION