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A high 5 shareholder in an organization that’s the goal of a $3.3 billion takeover method by Rio Tinto has rejected the provide, arguing that the bid must be at the very least 30 per cent larger.
The FTSE 100 miner mentioned this week that it had agreed phrases to purchase Turquoise Hill Assets, the Canadian group that owns 66 per cent of the Oyu Tolgoi venture, an enormous Mongolian mine that’s exploiting one of many world’s largest copper deposits.
Sailingstone Capital, which owns a 2.16 per cent stake in Turquoise Hill, mentioned the provide didn’t “adequately compensate minorities for his or her financial curiosity in Oyu Tolgoi and is in line with Rio’s opportunistic makes an attempt to reap the benefits of a state of affairs that’s of its personal
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